Italian cooperative and grocery retailer Coop has sold 54 of its supermarkets in Italy’s capital Rome to Magazzini Gabrielli.
Magazzini Gabrielli is a holding company specialising in large-scale distribution, owned by the Gabrielli family of Ascoli Piceno, and operates the Oasi and Tigre supermarket banners.
The value of the transaction has not been made public by the two parties.
The 54 Coop stores will be rebranded by the end of April as Tigre supermarkets and superstores.
The stores in question were owned by Distribuzione Roma, an independent company and part of Coop Alleanza 3.0.
The decision to sell comes after the cooperative and grocery retailer incurred losses of more than €21 million in 2021 against annual sales of nearly €181 million.
The transaction has raised more than one concern among labour unions, who fear changes in working conditions for the estimated 800 employees.
Read More: Fewer Than Two-Fifths Of Italians Satisfied With Grocery Shopping Experience
Presence In The Lazio Region
With the acquisition, Ascoli-based Magazzini Gabrielli, part of Selex, will consolidate its presence in the Lazio region with approximately 100 stores.
Despite the divestment, the Coop banner will be present in Rome, with 26 stores belonging to various cooperatives.
Unicoop Tirreno continues to operate seven outlets, including two Ipercoop hypermarkets; Unicoop Firenze operates 14 Doc supermarkets; while SuperConti (part of Coop Centro Italia) manages five stores.
In addition, the EasyCoop e-commerce service remains active in the city of Rome and the 11 municipalities in the province of Rome with an assortment of over 10,000 references.
Read More: Coop Alleanza 3.0 Secures €560m Development Loan
© 2023 European Supermarket Magazine – your source for the latest Retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: European Supermarket Magazine.