Finnish department store chain Stockmann Group has announced the sale of delicatessen grocery stores to retailer S Group.
According to a statement by Stockmannn Group, S Group plans to develop the delicatessen stores into “European top-level flagship stores”.
The deal, which is subject to approval by the Finnish Competition and Consumer Authority, will see employees of Stockmann’s stores transferred to S Group and the stores remaining within Stockmann department stores.
Lauri Veijalainen, CEO of Stockmann, said:”Stockmann Delicatessen is an institution and a key part of our department stores, now and in the future. We have found an excellent partner that has the willingness and resources to further develop Delicatessen in a competitive manner and to ensure that our customers will continue to have access to excellent service and selections”.
Currently, S Group operates more than 1,600 retail outlets in Finland, as well as a number of regional cooperatives. Once the transaction is complete, the group will also operate six Stockmann Delicatessen stores.