Last month the owners of Italian supermarket chain Esselunga reached an agreement for a future stock exchange listing. Now Corriere della Sera reports that the company's market value could be around €7 billion - ten times its operating margin.
This means that Esselunga, with its 154 stores, could be worth more than many of its EU competitors, according to Citi analysts.
Growth Strategy
The IPO could also help the family-run company to quickly climb the rankings and lay the groundwork for a further growth phase, as has been the case for large retailers in France and the UK.
Esselunga’s growth strategy for the future also relies on the introduction of online shopping and home delivery. These new projects will be a strong component of the €1.8 billion investment plan, which is expected to be completed by 2020.
In addition, Esselunga is investing in its fourth distribution centre at Ospitaletto near Brescia, which will serve the north east of Italy and the new stores that will be opened in that region.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine
