UK: Value retailer B&M eyes investment in Germany's JA Woll Handels.
B&M plots European expansion
UK variety retailer B&M has confirmed it is looking to acquire a majority stake of German discount firm JA Woll Handels.
The acquisition attempt is the value retailer's first venture outside the UK.
Asked by just-food if B&M was on the verge of acquiring a majority stake in the business a spokesperson responded: "That is correct".
JA Woll Handels currently operates 49 stores under the Hafu and Jawoll fascias and claims to be a "market leader in the north west" of Germany where it is the second largest "out-of-town" discounter.
The spokesperson said the move was part of B&M's "planned acquisition of majority stakes" in European retail businesses.
"They've said for some time there's potential for European expansion - this is a venture into the continental European market. This company has grown rapidly under current ownership and wants to accelerate further," she added.
- Analysis: Is Heinz, Kraft merger "a growth story"?
- M&A Watch: Who could be on 3G Capital's radar?
- The challenges awaiting ConAgra's new CEO
- Focus: Can Mars gain share in Indian chocolate?
- Viewpoint: Faber-led Danone gets realistic
- UPDATE: Heinz, Kraft strike merger agreement
- Fatal explosion at French desserts firm Senagral
- Kraft "in buyout talks" with Heinz owner 3G
- Infographic: Heinz, Kraft unveil combined business
- Buffett: Kraft Heinz to withstand health focus