SCP Group Acquires Real Hypermarket From Metro AG
LUXEMBOURG - Recently, SCP Group, a Luxembourg-based financial investment firm, acquired Real hypermarket, a banner under German wholesaler Metro AG. The transaction includes 276 Real stores, its digital business (including the online marketplace real.de), 80 real estate properties, and all companies affiliated to Real.
“It is important to us that the majority of today’s Real stores will continue to operate in some form in the future. Thereby, many of the experienced and qualified Real employees will have good prospects of continuing their employment going forward,” Olaf Koch, CEO of Metro AG, said.
According to Metro’s press release, SCP Group partnered with x+bricks Group to oversee the repositioning of the business’ real estate portfolio. The investment firm will retain all of the approximately 34,000 Real employees with their present contracts under existing conditions.
“Today, we have achieved an important milestone that will provide Real locations with the best available economically viable concept for the future. SCP Group and x+bricks Group combine a highly dedicated team with high retail and real estate expertise, the necessary funds as well as a long-term vision for Real and its locations,” commented CEO of SCP Group, Marjorie Brabet-Friel.
For more information on this acquisition, please click here for the full press release. Stay in the know on all things retail with AndNowUKnow.