Portuguese retail group Jerónimo Martins has bought five stores from one of its Polish competitors – Piotr i Pawel.
According to Portuguese daily Jornal de Negócios, the stores have already started operating under the Biedronka banner, which is owned by Jerónimo Martins.
The value of the transaction has not been disclosed.
Restructuring Programme
Piotr i Pawel has closed several of its stores since the beginning of 2018.
The retailer claims the closures are part of a restructuring programme, which involves the closure of stores that are not profitable.
The retailer has closed its outlets in Katowice, Krakow and Bydgoszcz, and opened new stores in the Polish city of Tychy.
In the recent months, there has been much speculation about Piotr i Pawel seeking a new owner.
In the meantime, the Polish supermarket chain is planning to introduce a new loyalty programme, and test a new store design.
© 2018 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.
