METRO GROUP - METRO Group strengthens hypermarket business in Poland

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METRO Group strengthens hypermarket business in Poland

17/07/2006 cbi:///cms/157584

METRO Group strengthens hypermarket business in Polandcbi:///cms/157585

Real acquires Polish Géant stores cbi:///cms/157588
METRO Group will take over the Polish activities of the hypermarket operator Géant. Herewith the METRO Group sales division Real will strengthen its market presence in the Polish hypermarket segment. Real Poland will have a workforce of over 13,000 employees and sales of around € 1.3 billion. cbi:///cms/157590
"With this move, Real is consistently pursuing its targeted expansion strategy", said Dr. Hans-Joachim Körber, CEO of the METRO AG. "It optimally complements our store portfolio in Poland and raises the sales and earnings potential. This takeover will strengthen the international position of Real as a whole." cbi:///cms/157591
The price for the acquisition of 19 existing Géant stores and another seven locations under construction or in the planning phase as well as for inventories and fixed assets is € 224 million. Real is solely taking over the operating business – the transaction does not include real estate assets. cbi:///cms/157592
Géant is a subsidiary of the French retail group Casino. The acquisition was assessed on the basis of the strategy to increase the enterprise value of METRO Group. The deal is still subject to approval by the Supervisory Board of METRO AG as well as approval by the anti-trust authorities. cbi:///cms/157600
With this takeover, the number of Real hypermarkets in Poland would rise to currently 49 locations. This will contribute to strengthening both the store portfolio in the regions and the presence in large cities. With the success of the transaction, Real will be able to realize significant synergy effects in the fields of procurement, logistics, administration and marketing. cbi:///cms/157601
Facts and figures Real Polen: cbi:///cms/157602
 
Real
Géant
Real new
pro forma a
Sales 2005 in €
million
734
529
1,263
Employees
7,300
6,100
13,400
Stores
(as of first half
2006)
30
19
49
cbi:///cms/157603
Real has been active in Poland since 1997. METRO Group is in addition also represented in Poland with its sales brands Makro Cash & Carry, Media Markt and Saturn. It is one of the most important retailers operating in this country with annual sales of over € 3 billion (2005) and also one of the major private investors. With this acquisition, the number of employees working for the METRO Group and its affiliates in Poland rises to around 25,000. cbi:///cms/157610
METRO Group ranks among the largest international retailers. In 2005 it achieved sales of € 55.7 billion. The company is active in 30 countries at more than 2,100 locations and employs a workforce of around 250,000 employees. The performance capability of the METRO Group is based on the strength of its sales brands, which are acting independently in the market: Metro/Makro Cash & Carry – world market leader in self-service wholesale, Real hypermarkets and Extra supermarkets, Media Markt and Saturn – market leader in European consumer electronics centers – and Galeria Kaufhof department stores. cbi:///cms/157593
 
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