We look at how Netherlands-based Jumbo and Marqt, who have taken different steps to restructure their store portfolios to remain competitive in the market.
Jumbo buys Agrimarkt
Jumbo has announced it will take over supermarket chain Agrimarkt from the cooperative CZAV. This will see it acquire six stores in Goes, Middelharnis, Oud-Beijerland, Roosendaal, Terneuzen and Vlissingen. Jumbo will not take over the AgriSnel petrol filling stations and the AgriSnel charging stations, these will continue to be operated by CZAV.
Jumbo hopes to offer all the 360 employees’ opportunities in its organisation. CEO Frits van Eerd commented, “This acquisition fits well with our growth ambitions… The Agrimarkt stores are a great addition to our existing store base.” The acquisition is subject to regulatory approval and the financial details have not been disclosed.
Marqt closes two of its largest stores
Elsewhere in the Netherlands, Marqt has said it is restructuring its store portfolio to cut costs. Marqt, established in 2008, has not yet made a profit from its 18 stores. As such, the company has announced it will close two of its largest stores, on Utrechtsestraat in Amsterdam and Hofweg in The Hague, to enable it to focus on smaller formats. The stores are 2,045 sq. m and 1,460 sq. m respectively.
The lease contracts for the properties will be taken over by Albert Heijn. The move is in line with Marqt’s new strategy of operating stores with a sales area between 350 and 750 sq. m. Marqt will release its full strategy in Q4 2019. Over the last year, Marqt has signed five new leases, of which three have now been opened. The other two are expected to open by the end of 2019.