SPAR Hungary gets Plus
SPAR Hungary, will take over 174 Plus stores from Germany's Tengelmann Group in Hungary, for an undisclosed amount, boosting its network to 378 stores. SPAR will also take on the existing 2,300 Plus employees.
SPAR Hungary had acquired 22 Kaiser's stores from Tengelmann in 2003. The 2004 SPAR and INTERSPAR stores booked €1.1 billion gross revenues in Hungary in 2007, ranking the group as the second largest retail chain in the country.
Plus Hungary's turnover was €402 million last year. The combined market share of the two groups is around 13%.
(Source: portfolio.hu)
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