German conglomerate Tengelmann insists it is looking to expand its network of Plus discount stores and not sell off the business.

The company told just-food this afternoon (8 August) that it is looking to increase the number of Plus stores in its portfolio. The Plus business numbers around 3,800 stores across Europe.

“We are keen to keep our Plus business because it is one of the core businesses of the Tengelmann group,” a spokesperson for the conglomerate said.

“The main plans for the Plus business are consolidation and expansion; we will start the Plus business in the Bulgarian market next year.”

Reports in Germany said Tengelmann was willing to cede control of its Plus network while keeping a minority stake in the country.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Last month, Tengelmann scaled back its Plus business with the sale of the chain’s outlets in Spain to Carrefour for EUR200m (US$276m).