Danish competition authorities have approved REMA 1000's acquisition of 114 Aldi stores in Denmark from the German discounter.
The deal will give REMA 1000 Denmark access to locations that are well-suited for the discount retail chain, the company said in a statement.
"The agreement is a milestone for us and illustrates the power of our business model," said Ole Robert Reitan, CEO of Reitan Retail, of which REMA 1000 is a part.
The acquisition will strengthen REMA 1000's existing store network and contribute to its growth and increased market share, he added.
The retailer added that it plans to implement Reitan Retail's franchise model, which focuses on improved efficiency, store sales and profitability, at the acquired stores.
Acquisition 'An Extra Large Event'
"When my father started REMA 1000, it was inspired by Aldi. The fact that we are now finalising this agreement is, therefore, an extra large event for us," added Reitan.
In December of last year, Reitan Retail agreed to buy 114 grocery stores and three distribution centres in Denmark from rival Aldi for an undisclosed amount.
This divestiture also marks Aldi's exit from the Danish market, where it previously operated a total of 188 stores.
In 1979, the first REMA 1000 opened its doors in Trondheim, Norway. The chain opened its first store in Denmark in 1994.
Reitan Retail
Reitan Retail, which has some 43,500 employees and 3,800 outlets in seven countries, saw operating profit (EBIT) for its 2022 financial year decline by 5% to NOK 3.6 billion (€320 million), from NOK 3.8 billion (€340 million) in 2021.
It operates retail banners such as 7-Eleven, Narvesen, Pressbyån, R-kioski and Uno-X, in addition to REMA 1000 in Norway and Denmark.
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