Belgian discount supermarket chain Colruyt said it has agreed to buy two French distribution companies in order to improve its position in the French food services market.
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Colruyt said it has bought Paris-based grocery and frozen food distribution company Jean Didier and distribution company Harrydis, based in the south of the capital, reported Reuters.
The company declined to reveal financial terms of the deals but said that Jean Didier has annual turnover of €25m (US$26.9m), while Harrydis has annual revenue of around €6.5m.
Colruyt is aiming to increase its geographical reach through the deals and said that after the acquisitions France would account for around 10% of Colruyt’s total sales, a 2% increase from the current situation.
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