Retail group Metro is to take a majority stake in ethical grocery retailer Emmas Enkel, according to an ESM article quoting Lebensmittel Zeitung. The Germany-based multinational wholesaler is said to be upping its stake in Emmas Enkel from 15% to 93%, having first invested in the Dusseldorf-based firm at the end 2014. Emmas Enkel operates both e-commerce and bricks and mortar stores, the latter located in major German cities such as Cologne, …
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Canadian supermarket chain Metro is to acquire a majority stake in Quebec bakery Premiere Moisson. The price of the purchase has not been disclosed. Among the aims of the deal is to allow the retailer to expand its offer in the bakery market, reports indicate. The Canadian Grocer reports that the bakery will retain 25% of the company and continue to manage all its stores and production plans. Metro CEO …
According to VCCircle, German cash and carry firm Metro Group plans to triple its store count in India to 50 by 2020. Olaf Koch, Chairman of the management board of Metro, said: “India has always been an important future growth market for METRO and we have seen continuous like-for-like growth recently in India. Now we decide to inject extra momentum into our expansion course there to operate 50 distribution centres …
German wholesaler Metro has rejected a takeover bid from CP Group, which is run by Thai Billionaire Dhanin Chearavanont, for its Vietnam cash and carry business. A spokesperson for Metro on Thursday said that the Vietnam business was not for sale and that they had rejected unspecified offers, according to Reuters. The Dow Jones news agency earlier quoted unnamed sources which claimed that, despite the initial rejection, CP Group was …
German retailer Metro has announced that it expects its profits for the full financial year to be higher than its previous estimates. German wholesale giant Metro has reported higher underlying profits and results for a short nine month financial year. Metro booked EBIT before special items of EUR2bn, reportedly boosted by real estate sales. Looking ahead to its new fiscal year, Metro now expects EBIT before special items in 2013/14 …
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