Merger Creates Sicily's Largest Food Retailer
Conad Sicilia and Sicilconad have merged creating the largest food retailer in Sicily, with a 16% market share.
The merged group, Conad Sicilia, will have an annual turnover of €845 million, almost 400 outlets, 230 cooperative partners and over 3,900 staff members.
Additionally, it will be an important factor for the island's economy, with 200 local suppliers, representing almost 10% of annual turnover. Conad Sicilia will also operate eight stores in Malta.
In a statement, the retailer explained that the merger aims to exploit economies of scale, by enabling a more effective and efficient use of resources and the corporate structure. In addition, Conad Sicilia will be better placed to face up to the difficulties of a market in crisis, particularly in protecting shareholders and employees, ensuring continuity of employment and creating new development opportunities for the region's economy.
According to general manager, Natale Lia, the goal is to exceed €1 billion in turnover as a result of two development processes that will affect, first of all, the entire cooperative network and, at the same time, the search for other Sicilian partners. He added that a development plan will be presented by the beginning of 2016.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.