French retailer Auchan has entered into a partnership with Ukrainian supermarket group Furshet. The retailers jointly will establish two companies that will operate in the Ukrainian market.
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According to reports coming out of Paris and Kiev, one company – which will be 66% owned by Auchan – is to focus on the development of the Auchan brand in Ukraine. A second company, a 50-50 joint venture, will focus on the hypermarket sector. It is believed that Auchan will take a 20% stake in Furshet.
“We are always seeking to expand our market presence, whether this be through tactical partnerships or expanding into new businesses” a spokesperson for Furshet told just-food. Although the company would not comment on the specifics of any deal, it is understood that the groups are awaiting approval from competition authorities.
