Belgium’s Colruyt Group has announced it will invest around €30 million in growing its organic supermarket chain Bio-Planet, and €12 million in its baby specialist banner DreamBaby.
Trade publication Gondola reported that the capital investment was necessary in order to ensure the long-term growth of both banners, which are still in expansion mode.
"The capital increase should support the future growth of both retail formats. It is an investment for the long term," a Colruyt spokesperson said.
Colruyt operates 23 Bio-Planet stores across Belgium, with the group’s chief executive, Jef Colruyt, saying that he anticipated a total of 30 outlets opening, mainly in Wallonia and Brussels.
In the case of DreamBaby, the company’s target is to have around 35 outlets, up from the current 23.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine