Dutch grocery retailer Laurus has announced plans to invest around €275m (US$343.2m) over the next three years to overhaul most of its stores.

Chief executive Harry Bruijniks said around €114m is to be invested in revamping the company's Edah stores, €70-80m will be spend on Konmar stores, and €79m on Super De Boer, reported Dow Jones International News.

Laurus also announced a €200m rights issue to finance the upgrade, strengthen its equity position and reduce debt.