Rewe, the Germany-based retailer, has joined forces with Swiss grocer Coop to form a pan-European wholesale business.
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The move, announced today (27 October) will see the companies each take a 50% stake in transGourmet Holding, which Rewe claimed would be the second-largest cash-and-carry and foodservice company in Europe.
The two sides have already worked together on a similar venture in Switzerland and Rewe CEO Alain Caparros said Coop was an “ideal partner”.
Caparros said the deal was also a sign of the development of Coopernic, the pan-European alliance that counts Rewe and Coop among its five members.
“We are more than just a purchasing cooperative. We will increasingly be a strategic unit,” Caparros said.
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