Spar Handels revealed earlier today [Friday] that its North Rhine Westphalia-based KODi Discount chain will be sold to the real estate group Meridian Immobilien & Vermoegensverwaltungs.

The sale of the 111 non-food stores is in line with Spar's restructuring moves, which will see the company focus on its core wholesale and food retail operations.

The financial details of the deal have not yet been disclosed, however Meridian is retaining all of KODI's employees.