Metro Group has signed an agreement with the government of Kazakhstan that will see the German retailer open its Metro Cash & Carry chain in the country.
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“Kazakhstan offers great potential for our self-service wholesale business”, said Frans Muller, CEO of Metro Cash & Carry International. “By entering the Kazakh market we are once again acting as a first mover and consequently pursuing our international expansion strategy.”
Metro Cash & Carry sees a potential for 10 to 15 wholesale stores in Kazakhstan, the company said today (4 September). It intends to open its first outlet in the summer of next year.
When contacted by just-food, the company declined to provide details about the total size of the investment. However, Metro said that on average a Metro Cash & Carry outlet represents an investment of around EUR15-20m (US$21.67-28.89m).
With the move, the company will extend its activities to 33 countries. In May, Metro announced plans to launch its Cash & Carry format in Egypt.
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