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Netto International CEO: Offer For Swedish Business ‘Came Out Of The Blue’

Published on May 17 2019 8:11 AM in Retail tagged: Featured Post / Netto / Coop Sweden / Paywall / Netto International

Netto International CEO: Offer For Swedish Business ‘Came Out Of The Blue’

The chief executive of Netto International, Michael Løve, has told ESM that last week’s bid by Coop Sweden to take over its Swedish operations “was an offer we didn’t see coming”.

In one of his first interviews since the deal was announced last Friday, Løve said that the bid came at an opportune time for Netto, which is in the process of rolling out its ‘Netto 3.0’ store concept in the markets in which it has a presence.

Speaking to ESM on the sidelines of the World Retail Congress in Amsterdam, Løve admitted that the offer "came out of the blue, and it's enabled us to focus our investments more”.

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