French Groupe Auchan has reached an agreement with the German retailer Metro Group to buy Real’s business in Central and Eastern Europe, including Romania, the company has announced.
Group Auchan will take over 91 Real hypermarkets in Poland, Russia, Romania (24 hypermarkets) and Ukraine which will be branded as Auchan, and 13 shopping mall locations in Russia and Romania for a total EUR 1.1 billion. In these four countries, Real reported in 2011 sales of more than EUR 2.6 billion and has around 20,000 employees. Auchan already operates 98 hypermarkets and has a workforce of more than 65,000 employees in Poland, Russia, Romania and Ukraine.
The transaction requires approval by the relevant antitrust authorities and should be completed in 2013.
Groupe Auchan is the world’s 12th largest food retailer. It operates in 12 countries and has 269,000 employees. It is structured into 5 core businesses: hypermarkets (655 fully-consolidated stores and 23 under management mandates, associated or franchised ), supermarkets (767 fully consolidated stores and 1,665 franchised and associated ), retail real estate (Immochan), banking (Oney Banque Accord), e-commerce, and other activities.
In 2011, Auchan Group reached a consolidated revenue excluding taxes of EUR 44.4 billion, 55 percent of which came from outside France.