Dutch Retailer Jumbo Acquires Agrimarkt Chain
Dutch retailer Jumbo has announced the acquisition of supermarket chain Agrimarkt, which comprises six stores in the south west of the Netherlands.
The transaction, the financial details of which were not disclosed, includes stores in Goes, Middelharnis, Roosendaal, Vlissingen, Oud-Beijerland and Terneuzen.
Some 360 people are employed both at the stores and at the Agrimarkt headquarters, the majority of whom will transfer to Jumbo from the current owner of Agrimarkt, agricultural cooperative CZAV, once the deal is completed.
The financial details of the deal have not been disclosed, and it has been submitted to the relevant competition authorities for approval.
Commenting on the acquisition, Jumbo chief executive Frits van Eerd said that the stores "fit in well" with the group's growth ambitions.
“The Agrimarkt stores are a nice addition to our current store stock in the southwest of the Netherlands," he said. "In addition, the intended acquisition enables us to further strengthen our market position. Earlier this year, we opened a logistics hub in Middelburg for the delivery of online ordered groceries. In combination with these stores that will operate under the Jumbo flag, we now can offer wide range in this part of the country."
Antoon van Vugt, managing director of CZAV, said that the cooperative has examined "various strategic options" regarding the future direction of the Agrimarkt business, and added that it is "clear to us that the Agrimarkt stores can develop better with a strong formula in a retail environment where the focus is on operating supermarkets and serving customers in an omni-channel environment".
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.