Salling Group has acquired a tranche of 35 stores, including 25 365discount stores, three Kvickly outlets, five SuperBrugsen stores and two projects that have not yet been realised, from Coop Denmark.
The deal is awaiting competition approval, following which Salling Group intends to host a 'welcome day' for employees of the Coop stores, it said in a statement.
The purchase price and other conditions pertaining to the deal have not been made public.
Market Expansion
"We are proud of this acquisition, which gives us the opportunity to reach even more Danes in areas and at addresses where we are not present enough today," commented Anders Hagh, chief executive of Salling Group.
"The deal is only possible because we run a healthy and financially strong company that allows us to seize opportunities in the market when they arise. With these new stores and projects, we can add extra speed to Netto's and føtex's good momentum in the market, where we look forward to welcoming new colleagues to the Salling Group team."
Conversion Of Stores
Salling Group said that it will convert stores to either føtex or Netto outlets when the deal is completed, with each location assessed on an individual basis.
Hagh added that many employees in the stores have a "close relationship" with the businesses they work for, something that Salling Group needs to take into account.
"We must understand this," he added, "and therefore we also face the task with respect for the new local communities that we move into or become a larger part of, with an unwavering focus on creating good experiences for our new customers with motivated employees, high service, and inspiring goods at sharp prices."
