German grocery retailer Edeka has confirmed it is looking to expand into foreign markets as part of its plans for future growth.
Speculation has been mounting over the company’s ambitions but today (14 November) a spokeperson admitted it is looking to grow in international markets.
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“The EdekaGroup plans to go on expanding. In this context we will also examine if we want to commit ourselves to medium-term action abroad”, the spokesperson said.
However, the company remained tight-lipped on the specifics of its international plans, as well as its rumoured bid for Dutch retailer C1000, which is currently up for sale by owners CVC.
“As a matter of principle, we do not make any statement concerning any idea of any possible future projects”, the spokesperson added.
In September the retailer outlined its plans to spend EUR1bn (US$1.3bn) expansion to add 200 stores and modernise existing sites.
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By GlobalDataIt also aims to increase its number of Netto branches from the 4,000 it operates in the market to around 5,000 over the next few years.
Edeka has approximately 12,000 stores and achieved sales of EUR43.5bn in 2010.
