Metro AG To Sell Real, Focus Solely On Wholesale
Germany’s Metro AG has announced that it is seeking a buyer for its Real hypermarket business, to focus solely on its wholesale operations.
In a statement, the group said that it has initiated ‘a systematic divestment process of Real and all associated business activities’, adding that it believes Real has ‘laid the foundations for an independent future in the German food retail segment’.
In July, Metro previously said that it had 'no plans' to sell the unit.
Commenting on the move, Metro AG chief executive Olaf Koch said, “Real has made significant progress in its transformation over the past three years. The foundation for a successful independent future have been laid.
“Metro is thus focusing entirely on wholesale. We will further intensify and expand our focus on professional customers in order to tap the enormous potential.”
In the statement, Metro said that the management of Real, together with the Metro executive board, had ‘revitalised’ the Real business over the past three years, as well as ‘systematically advanced’ the development of its online business.
In addition, it has rolled out the 'Markthalle' market hall concept to 19 stores, and it plans to introduce at Braunschweig in October 2018 and in Bielefeld next year.
“Together with our employees, we have shown that we can inspire customers with attractive and modern retail concepts such as the market hall, our 30 new weekly markets and digital platforms and grow the business as a result,” said Patrick Müller-Sarmiento, Co-CEO of Real.
“Now we begin the next chapter in the development of Real.”
© 2018 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.