Rewe Group has acquired a 51% stake in Wasgau AG, operator of supermarkets, hypermarkets and cash & carries in Rhineland-Palatinate and Saarland, Germany.
'Many parallels' between Rewe and Wasgau
Rewe CEO Alain Caparros said Wasgau had a strong local and regional position in Rhineland-Palatinate and Saarland, and a wide range of expertise in the areas of freshness and regionality. The aim of the share restructuring is to help secure a strong regional trading company, and develop a sustainable future for Wasgau.
Wasgau AG is based in Pirmasens, in south-western Germany near the French border. It operates 87 supermarkets and hypermarkets, of between 600 and 4,000 sq m, alongside seven cash & carry outlets which supply catering and wholesale customers. Wasgau reported sales of around €482m in 2011, the most recent figures available. The remaining 49% stake will stay in the hands of the Hornbach Foundation. The transaction remains subject to regulatory approval.