Belgian retail group Colruyt has said its Pro à Pro Distribution unit has signed an agreement for the acquisition of 100% of the shares of French foodservice firm I.N.E.C.O.
I.N.E.C.O., based in Sainte-Marie (Réunion Island – France), is a distribution company active in the foodservice sector, distributing mainly fresh products. In the financial year 2004 it achieved a turnover of €11.7m (US$14.9m).
Colruyt said the acquisition of I.N.E.C.O. fits in perfectly with the strategy of Pro à Pro Distribution, in which it is primarily focusing on expanding its activities in the overseas provinces of France.