Edeka has confirmed the divestment of its 25% stake in the Netto discount business, ending its agreement with Dansk Supermarked.
Strategic focus on independent retailers
The divestment, first reported in mid-December, took effect from 31 December 2012 when the stake was sold back to the Danish group. Group CEO Markus Mosa said that strategic focus would fall on Edeka's independent retailers and companies. However, joint purchasing will continue until 2016. Edeka did not reveal the value of the transaction.
Growing discount network
Edeka aims to increase its Netto Marken-Discount store network by around 20%, to some 5,000 stores, over the next few years. Expansion will focus on urban areas with growing populations.
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