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1 MIN READ

Finland: S Group acquires Stockmann stores

July 12, 2017
-
Europe, Food, Retail

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.

Source: Stockmann

Tags
S Group
Stockmann Group
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Finland: S Group acquires Stockmann stores - Gama