Portuguese retailer Jeronimo Martins has acquired five stores from one of its competitors in Poland – Piotr iPawel, a retail chain of delicatessen and supermarket stores.
Jeronimo Martins has taken another step in its plans to expand in Poland with the acquisition of the five stores, an opportunity that arose at a time that Piotr iPawel is experiencing financial difficulties.
The value of the transaction was not disclosed, however sources say that this is an acquisition that is in line with the strategy of the Jeronimo Martins’ Biedronka, which is the largest supermarket chain and leader in food retail in Poland, being the main source of the group’s revenue.
Jeronimo Martins now owns 2,837 stores, but according to sources the company’s plans of expansion may not stop here.
The acquired stores, located in Wroclaw, Poznan, Tychy and Kalisz, will be operated under the Biedronka banner and are planned to open on the 28th September 2018.