German retail giant Rewe has acquired 39 Sky supermarkets in southwest Germany from cooperative retailer Coop eG for an undisclosed sum.
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The acquisition, a bid to claim further market share in Europe’s biggest economy, is designed to strengthen both companies’ positions, Rewe said today (1 October).
Rewe said it would continue to look for suitable acquisitions as it strives to expand its store network in Germany.
“With this acquisition we are building a very good position in the southwest of Germany,” said Rewe’s Lionel Souque.
He added: “The sites have an excellent reputation among customers. On this solid foundation we can now systematically build. Rewe will continue with innovative approaches including the recently launched premium private label Fine World, regional products and customer service concepts to the successful development in Germany continuously.”
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By GlobalDataAll employees affected will be transferred to Rewe, the companies said, adding the deal needed approval from anti-trust authorities.
Last year, the Sky supermarket chain, with around 1,140 staff, achieved a turnover of over EUR150m (US$218m).
The acquisition is subject to antitrust authority approval.
