Italian discounter Todis has expanded its presence in Sicily with the acquisition of 12 Meridi stores, taking its network to 35 outlets.
According to Todis, the takeover of the former Fortè shops, mainly located in Palermo and surrounding areas, “is just another step towards expansion in Sicily, which will be carried out through acquisitions and one to one development”, reports daily Il Sole 24 Ore.
To close the operation, Iges – owner of the Todis brand and 100% controlled by PAC2000A Conad cooperative – invested €4 million for the purchase, modernisation and relaunch costs.
Last October, Todis completed the merger with the company Sodisi that managed the Todis brand in Sicily.
The discounter also opened a new distribution centre and offices in Carini (Palermo) to support its growth plans.
According to 2020 figures, with 23 shops Todis had a market share of about 2.5% in the discount channel.
The discount channel accounts for 34% of the grocery retail market in Sicily, compared to a national average for Italy of 21.7%.
Radenza
Elsewhere, Modica-based Gruppo Radenza signed an agreement with Coop Alleanza 3.0 to acquire 12 supermarkets in Sicily.
The group plans to invest around around €25 million in restructuring and renovating of the stores, according to Il Sole 24 Ore.
As part of a master franchise agreement, Gruppo Radenza will now manage the Coop banner in Sicily and has already started the rebranding process of both directly-owned and franchised shops to the Ipercoop, SuperstoreCoop, Coop and InCoop banners.
Radenza has forecasting a turnover of €1 billion in three years, up from its current €700 million.
© 2022 European Supermarket Magazine. Article by Branislav Pekic. For more Retail news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.
