German retailer Rewe has signed a multi-faceted deal with Coop eG, the largest consumer co-operative in the country.
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Under the terms of the deal, Rewe will become a “sleeping partner” in Coop and buy an unspecified stake in the company.
The two sides will work together on joint procurement, a move that will initially see Rewe supply fresh and frozen foods to Coop’s Sky stores in southern Germany.
Rewe said Coop’s independence would be maintained and that the co-operative could benefit from greater investment.
Coop CEO Gerd Müller added: “Through our association with REWE Group, we are securing the long-term competitiveness of Coop eG in the hard-fought German food trading business.”
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