Rewe Group has increased its stake in Billa Russia to 100%, the firm confirmed today (23 June).
The German retail giant has increased its stake from a previously held 75%, making it the sole owner of the Russian supermarket chain.
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Pierre de la Motte, a spokesperson for Rewe, told just-food that the change of stakeholder does not affect the number of stores it operates, which currently amounts to 63 Billa stores in the country.
Motte added: “The shares were available and [the deal] will help develop the business in the growing Russian market.”
He added that Rewe will now look at expanding the Billa store base with “at least” ten store openings planned for this year.
“In the coming years we want to grow organically. But we do not exclude acquisitions. In addition, we are going to re-brand the 21 Biop stores to Billa,” Motte said.
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By GlobalDataThe firm declined to disclose financial details of the deal.
