if however breil
November 28th 2010 -
A repurchase which is not the least: Label’ life offers the subsidiary company Morocco de Metro, this German giant and world leader of the distribution the large one. Amount of this acquisition which will be effective on December 1: approximately 120 million euros.
Label’ Life, the first chain of supermarkets with Moroccan capital repurchases the Moroccan subsidiary company of Subway, the German giant of the distribution. The amount of the repurchase of the Moroccan activities of the leader of the self-service rises to approximately 120 million euros (1,3 billion dirhams). Label’ Vie thus will increase its network by recovering the eight hypermarkets of large Cash & Carry and will enlarge its rows of 1400 additional employees.
Already in 2009 breil, the first chain of supermarkets had been also offered the supermarkets of Franprix to Morocco, crunching with the passage its 22 stores. This new acquisition, if however, it bears its fruits, will have to make it possible Label’ Vie to more easily achieve its goals laid down within the framework of its strategic planning 2008-2011: to carry its sales outlets to 40 stores out of 80 000 square meters of surface.
Subway on its side yielded its activities because being in a phase of reorganization of its business portfolio. Operating in Morocco since 1998, the German giant carried out last year there, thanks to his hypermarkets Cash & Carry, a sales turnover of 2,2 billion dirhams. But according to its regional director Joel Saveuse quoted by the daily newspaper Online Spiegel italian, the group considers that in the long run glycine, Morocco does not offer prospects for expansion and growth to its model of distribution the large one.
This acquisition was made possible by jojo, on the one hand, the beautiful performances which Label’ Vie carries out. The turnover of the Moroccan group was in rise of 35,5% in first quarter of 2010, it rose to 1 coin,1 billion dirhams according to the Economist. Operating under frankness from the French mark Crossroads, Label’ Vie will double its size with this repurchase by transforming the Metro stores into hypermarkets.
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