Spanish cooperative Consum has acquired nine supermarkets from the Valencian distribution company Kuups Design International.
Out of this total, eight stores operate under the Economy Cash banner, and one as Vidal Tiendas, the company noted.
The acquisition, subject to the approval of the National Commission for Markets and Competition (CNMC), will allow Consum to improve its service in the Mediterranean area, the company noted.
Seven of the acquired stores are located in the Valencian Community – in Aldaia, Alaquàs, Massanassa, Sueca, Gandia, Xàtiva and Torrevieja – and one each in Catalonia’s Amposta and Murcia’s Caravaca de la Cruz.
Consum plans to integrate the entire workforce of the acquired stores into its cooperative model.
The move will see approximately 193 workers joining its team of over 22,000 people.
Consum
This year, the Spanish cooperative has opened five Consum supermarkets and 30 Charter franchises.
It hopes to close the year with a network of more than 970 stores, spread across the Valencian Community, Catalonia, Murcia, Castilla-La Mancha, Andalusia and Aragon.
With this latest acquisition, Consum will consolidate its position in the national market and reach a share of 26.5% in the Valencian Community.
