Tengelmann, the German retailer, is to sell off another chunk of its discount business Plus after agreeing a deal for its stores in Hungary.

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The company plans to sell its 174 stores in the country to Spar Hungary, it said today (10 March). The outlets are the latest in a line of Plus stores to be sold across Europe.


Last week, Tengelmann agreed to sell its Plus chain in the Czech Republic to German retailer Rewe.


In January, Belgium-based retailer agreed to become the owner of the Plus business in Greece.


In December, Tengelmann struck a deal to sell its Plus stores in Portugal to local retailer Jeronimo Martins.

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The company has also ceded control of its domestic Plus business after a deal with German retailer Edeka in November.


Plus has been in Hungary since 1992 and generates annual sales of around EUR400m (US$614m).


Tengelmann’s other retail interests include US retailer A&P, which has recently merged with regional grocer Pathmark in a US$1.3bn deal.

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