Danish retailer Dansk Supermarked has reached an agreement to acquire 81 stores from competitor retailer Dagrofa.
According to European Supermarket News, Dansk Supermarked aims to convert more than half the acquired stores into Netto outlets, whilst leases on the other stores are set to be offloaded to other retailers.
Following the transaction, Dagrofa is set to focus its efforts on its Meny, Spar, Min Kobmand and Let-Kob banners, as well as its foodservice operations.
Dagrofa first announced plans to close 118 Kiwi stores last May but has now secured the future of the sites, partly as a result of the deal with Dansk Supermarked and partly by converting some stores into Meny and Spar outlets
As a result of the deal, Netto will become the leading chain in Denmark and the first to surpass 500 stores.
The deal is subject to approval by Denmark’s competition authority.