A joint venture between German department store operator Karstadt-Quelle and food retailer Rewe may be in jeopardy according to German media.
Go deeper with GlobalData
Rewe has pledged an investment of €50m (US$60.5m) in the venture, which will help Karstadt modernise its 72 in-store grocery departments.
However, Rewe could be seeking to withdraw from the venture and has an option to do so in June 2005, according to the German News Digest.
As part of the deal Rewe has vowed to offer better purchasing conditions to Karstadt than Edeka, the supermarket chain which had previously supplied the department store operator’s grocery divisions.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
