Edeka has sold its 25 per cent stake in the German arm of discount retailer Netto to majority shareholder Dansk Supermarked. The deal, which was effective as of 31 December 2012, is part of Edeka's 'realignment' of its strategic focus on "independent retailing and on companies in which we can hold operational responsibility,” according to CEO, Markus Mos.
Edeka also operates a 4,000 store-strong discount banner in Germany called Netto. This competes with Dansk Supermarked's Netto store network in Germany, which is primary based in the north-east of the country, with around 350 stores.
Edeka and Dansk Supermarked’s Netto will continue their buying alliance until the end of 2016. (2 Jan)
© 2012 - ESM: European Supermarket Magazine
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