Commercial law | The Cologne-based food retailer Rewe wants to significantly expand its international business. Around five billion euros are to be invested in expansion measures by 2025, more than in previous years.
The Group currently operates around 4,500 stores abroad. According to Jan Kunath, Deputy Chairman of the Rewe Group responsible for international business, the money is to be invested primarily in the modernization and expansion of stores, logistics and IT infrastructure between 2022 and 2025. Rewe currently operates mainly Billa supermarkets and the Penny discount chain in Austria, the Czech Republic, Slovakia, Italy, Bulgaria, Romania, Hungary, Croatia and Lithuania. The headquarters for international business is Vienna. The expansion is expected to increase the number of stores to 5,000. In addition, gross sales abroad are expected to increase from the current 18.75 billion euros to around 20 billion euros.
According to the company, the main objective is to secure and expand its own market position in those countries in which Rewe is already active by means of targeted investments and smaller acquisitions. Expansion into other countries, on the other hand, has been ruled out, at least for the time being. However, the company will also closely examine opportunities where an attractive market position in a Central European country can be achieved through a takeover.
Source of information: Handelsblatt.com from 17.02.2022
