UK retail giant Tesco has refused to comment on reports it is looking to takeover a number of Netto and Billa stores in Poland.
Reports today (28 April) suggested the retailer is looking to acquire 24 of REWE Group’s Billa stores and 158 of Netto’s stores in Poland.
A spokesperson for Tesco remained tight lipped on the reports when contacted by just-food: “As announced last week, we plan to open 36 new stores in Poland next year – an investment which will create around 1,800 jobs. We would not comment on rumour or speculation regarding future plans for the business.”
Danish discount retailer Netto denied the reports. Managing director Claus Juel Jensen said the company had not been approached by Tesco for a takeover and is planning a further 30 store openings this year.
Rewe also denied the reports.
Last week Tesco Poland posted sales growth of 9.6% for the 2008/09 financial year ended 28 February.
Despite worsening conditions in the Polish market, the retailer continued its organic growth with the launc of 22 new outlets of different formats, allowing it to achieve sales revenue of PLN8.7bn in 2008.
“Our financial results have contributed significantly to the achievement of the group of Tesco sales growth in Europe. This shows that the trend in which we adopted – the development of different formats, especially for small shops and ongoing adaptation of our pricing and products to the changing needs of customers, the expected results,” said Ryszard Tomaszewski, chairman of Tesco Poland.