Belgian retailer Colruyt has announced that its French subsidiary Pro à Pro Distribution has signed an agreement for the takeover of 100% of the shares of the Group S.A. Mallet.
Colruyt said Mallet includes eight firms, the most important of which are Disval (wholesale business in dry food) and Silor (wholesale business in fresh products). They mainly supply goods to independent local shops under the Coccinelle, Coccimarket and Panier Sympa brands.
During the fiscal year 2003, Mallet achieved a turnover of €56m (US$67.7m). The company employs 190 staff. The final takeover date is set for 30 June 2004.