Italian regional supermarket chain Italmark has purchased a 70% stake in the Family Market group.
The remaining 30% stake will remain in the hands of local businessman Fabrizio Uberti, reports Giornale de Brescia.
This deal will further strengthen Italmark’s leadership position in the retail sector in the municipality of Brescia and some areas of the Lombardy region.
As a business, Family Market encompasses 23 stores (all in Brescia, except two in Mantua and one in Cremona), 330 employees and a 2014 turnover of €85 million.
Family-owned Italmark has a network of 47 medium to large stores (38 in Brescia, the rest in Bergamo, Cremona, Mantua and Verona) and has over 1,000 employees. The joint turnover of both companies, after the merger, should amount to €500 million.
Italmarket and Family Market have had a partnership agreement in place since 2013.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic
