Family-owned Norwegian discount grocery chain, REMA 1000, has announced to be buying 114 Danish Aldi grocery stores from Germany rival, for a not-yet-disclosed amount. This was reported by internet media, Yahoo Finance.
In a statement, Aldi said the buy was part of a full exit from the Danish market for the German discounter where it has 188 stores. Aldi will now focus its attention on other existing European markets.
Retain retail Chief Executive, Ole Robert Reitan, said to Reuters the buy would significantly lift REMA 1000’s Danish revenue while making it the largest chain of grocery stores in Denmark.
Prior to the transaction, REMA 1000 owned around 330 grocery stores in Denmark.
For Aldi’s 2,800 employees, the buy means they will be made redundant.
The owner of REMA 1000, Reitan Retail, has some 42,000 employees across seven countries and comprises convenience stores, food retailers and petrol stations in the Nordic and Baltic region.
Source: https://sg.finance.yahoo.com/news/norways-reitan-retail-buys-114-163759928.html
