Iceland Foods has opened a test store in the Czech Republic and is now looking at further expansion in Eastern Europe.
The UK frozen food retailer said it opened an outlet in Plzen in Czech Republic last month with local franchise partner Czechfrost. The 2,500sq ft store will act as a test for the market, Iceland said.
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An Iceland spokesman told just-food: “We have been exploring opportunities in Hungary, the Czech Republic and Poland for the last 18 months, and we have opened our first store in the Czech Republic because that is where we found the best partner first.”
The spokesperson added that the expansion, if it goes ahead, will not be part of a franchise arrangement, as in other overseas territories.
He added: “[Iceland] is considering further expansion opportunities in Hungary and Poland. We haven’t put anything out on this and don’t propose to do so at this stage.”
The venture comes as Iceland Foods founder and CEO Malcolm Walker enters exclusive talks to buy the company.
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By GlobalDataWalker is in exclusive talks to purchase the remaining 77% of Iceland he does not already own from bankrupt Icelandic banks Landsbanki and Glitnir.
It is understood that Walker and Iceland’s management, which own the rest of the retailer, have tabled a bid worth GBP1.55bn (US$2.43bn).
