Auchan Acquires Ukrainian Retailer Karavan
Retail group Auchan has acquired the Ukrainian supermarket chain Karavan, adding nine hypermarkets to its retail network in the Eastern European country.
Karavan operates stores in Odessa, Kiev, Kryvy Rih, Zaporizhia and Lviv, and boasts more than 58,000 square metres of selling space.
Gérard Gallet, managing director of Auchan Retail Ukraine, said, “Through this major investment in Ukraine after a number of difficult years, Auchan Retail is reasserting its confidence in the revival of the country's economy, and is aiming to offer our customers and employees the benefits of a major international retailer.”
Oleksiy Yastremsky, head of Karavan, added, “The signature of this agreement between Auchan Retail Ukraine and Karavan on the acquisition of the latter's activities comes after successful negotiations. It is an agreement that benefits both parties. We firmly believe, moreover, that our customers will appreciate Auchan's services and the quality of its products.”
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. Click subscribe to sign up to ESM: The European Supermarket Magazine.