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CBA & Coop Complete Acquisition In Hungary

• 16 Nov 2012 8:00 AM

Hungarian retail chains CBA and Coop have announced the takeover of 110 Match and Profi stores from the 200 owned by Belgium’s Louis Delhaize group, which is selling its stakes and pulling out of Hungary.

It is not yet known which stores have been acquired. CBA will turn 48 stores formerly operated by Match into high-end CBA Príma units, Népszabadság writes.

CBA will take over staff at acquired stores, communication chief Ádám Fodor told reporters at a downtown Budapest Match store.

Coop has also completed its acquisition of 62 Profi and Match stores, Napi Gazdaság writes. The retailer has tapped bank loans to finance the transaction, which will boost its net retail space by 27,000m2. Annual revenues of the Coop group could rise by Ft 20-25 billion to reach Ft 630 billion after the takeover.

Source: Hungary Around the Clock

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