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Retail

B&M Bargains Close To Buying German Discount Retailer

By square1
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B&M Bargains Close To Buying German Discount Retailer

British's B&M Bargains is reportedly close to securing a deal which will see it buy a majority stake in German discount retailer JA Woll Handels.

If completed, it would mark B&M's first move outside of its home market, where it operates 375 stores and employs 17,000 people.

It was purchased by the Arora brothers in 2005, and has grown to a company which last year achieved sales of £1.2 billion.

JA Woll Handels, which is located in the north west of Germany, operates 50 under the Jawoll and Hafu banners. Its annual sales are €155 million.

Earlier this month, reports emerged in the British press that B&M is considering an IPO launch, but a decision on whether to press ahead with a float has not yet been made public.

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© 2014 - European Supermarket Magazine by Enda Dowling

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