Metro AG has announced that the higher regional court in Vienna has approved Metro Austria's acquisition of AGM wholesale stores from REWE Group.
The deal includes nine AGM wholesale stores and the associated delivery business, as well as the company's headquarters in Salzburg.
The nine stores are located in Graz, Hartberg, Spittal/Drau, Liezen, Neusiedl/See, Wiener Neustadt, St. Pölten, Bludenz and Klagenfurt.
The approval is subject to certain conditions, including two of its stores in Klagenfurt and Bludenz.
Approximately 430 employees working in the nine locations and the head office will be transferred to Metro Austria, the company added
Expand Market Presence
The company described the acquisition as 'a further step' to expand its market presence in the wholesale sector in Western Europe and broaden the range of services for customers in the the HoReCa sector.
The acquisition will see Metro Austria increase its network to 21 stationary wholesale stores.
AGM stores will complement the stationary wholesale network and the Food Service Delivery (FSD) business of Metro Austria, the company added.
It will allow Metro to offer added value in terms of products and services to existing and new customers and enhance its expertise in the Austrian food service wholesale sector.
Other recent acquisitions by Metro include delivery specialists Aviludo (Portugal) and Pro à Pro (Spain).
In September of last year, Metro Austria first announced the acquisition of AGM, saying that it will be able to expand its operations in Styria, Carinthia and Burgenland.