Auchan acquires Louis Delhaize's 7 Hungarian Cora hypermarkets | RetailDetail

Auchan acquires Louis Delhaize's 7 Hungarian Cora hypermarkets

The Auchan group has announced its acquisition of the seven Hungarian Cora hypermarkets and attached shopping centres from the Belgian Louis Delhaize Group. If the Hungarian authorities allow the deal, the hypermarkets will change hands for an undisclosed amount in the beginning of 2012.

 

The move comes as a surprise, as last month the Hungarian CBA chain openly stated it was aiming to buy the Coras and Louis Delhaize's other Hungarian chains Match (121 stores) and Profi (73 stores). CBA was eager to buy the three chains in order to pass Tesco as market leader in Hungary.

 

"Not interested in Profi or Match"

Auchan on the other hand stated it needed to acquire another chain in order to continue its growth in Hungary, after the new government issued a ban on new shopping malls and hypermarkets. Dominique Docoux, Auchan Hungary's CEO, told penzcentrum.hu earlier this year that Auchan "will respect the new law", but that he still considers hypermarkets to be a popular format in Hungary - words that he now turned into action.

 

Katalin Gillemot, spokesperson for Auchan Magyarország,  added that "Auchan only works with hypermarkets in Hungary, so the Profi and Match stores do not fit in our profile." The acquired Coras will be rebranded as Auchans and continue to be operated as hypermarkets.

 

End of the line after 14 years

Magyar Hipermarket, the group holding the Hungarian Coras, opened its first hypermarket in 1997 and currently holds three stores in the suburbs of Budapest (Budakalász, Fót, Törökbálint) and four in other major cities (Debrecen, Miskolc, Szeged and Szolnok). Its 2700 employees will find a job within the Auchan group in Hungary, that will 12 to 19 hypermarkets. Auchan currently has 5600 employees and a turnover of 224 billion forint (€ 816 million).

 

Questions or comments? Please feel free to contact the editors


Zara opens new flagship store with holograms and robots

18/05/2018

Zara’s remodeled flagship store in Stratford (London) welcomes customers with holograms, robot arms and iPad-powered employees. The store wants to unite the best of both the online and offline shopping world.

Komono wants to reach 10 physical stores this year

17/05/2018

Belgian accessory label Komono wants to double its number of physical stores to ten this year. “The stores are important to tell our story”, Anton Janssens and Raf Maes told De Standaard.

Hema has to pay Levi's millions

17/05/2018

Store chain Hema needs to pay a 4.4 million euro fine to jeans brand Levi’s after the latter went to court because Hema applied its V-shaped stitching to its own collection.

Suitsupply suffers losses because of expansion

15/05/2018

Dutch Suitsupply has experienced a decent turnover growth last year, but its net result tumbled below zero because of its huge investments. Nevertheless, that is the only way forward according to its founder, whose focus is still fixed on the United States.

Starting this Friday, Belgium has its own national e-commerce event

15/05/2018

Move over, Black Friday! This week, Belgium launches its own national e-commerce event as Jack & Jones, Kiabi, La Redoute, Sarenza, Tape à l'Oeil and Veritas organise the first Belgian Friday.

H&M is turning to algorithms to boost sales again

14/05/2018

In an effort to reverse the decline in its worldwide sales, H&M is using technology that will help the world’s largest clothing brand stock its stores more efficiently, sell more effectively and adapt more quickly to current consumer trends.