German retailer Tengelmann has agreed to sell over 100 Plus stores across Bulgaria and Romania to Lidl.
Tengelmann, the parent of US retailer A&P, plans to offload 23 outlets in Bulgaria and 96 stores in Romania to the discount giant for an undisclosed sum. The deal remains subject to antitrust approval.
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The A&P owner only opened the Plus chain in Bulgaria last autumn and said then it wanted to “intensify” its business in the Eastern European nation. Officials at Tengelmann couldnot be reached for immediate comment.
The deal with Lidl comes 18 months after Tengelmann formally ceded control of its Plus chain to local larger rival Edeka.
In April 2008, Jeronimo Martins bought 77 Plus outlets from Tengelmann in Portugal and, four months earlier, the Portuguese retailer bought 210 Plus stores in Poland.
2008 also saw Tengelmann sell its Plus business in Greece to Belgium’s Delhaize, its Hungarian outlets to Spar International’s local arm and its chain in the Czech Republic to Rewe.
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