Discount retailer Netto is planning to expand in Germany, Poland and Sweden following the sale of its UK arm to Asda.

Netto International managing director Claus Juel-Jensen told just-food today (16 August) that the company has “major plans for expansion in Germany, Poland and Sweden”.

Juel-Jensen said it was “hard to say” how many stores Netto would open. He said he needed to build the organisation’s size to make it able to cope with the faster expansion.

Juel-Jensen said that Netto is working with a five-year plan, and is looking to acquisitions and other options to help it aid faster expansion.

However, he said it was “difficult to say how long this will take as we need good, solid stores to buy”.

He added there are no plans to focus on one of the three countries, but that “expansion would be easier in Sweden than Germany”.

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By GlobalData

Netto agreed to sell its UK stores to Asda for GBP778m (US$1.22bn) at the end of May.