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Issuer: Bronze Properties Sárl
/ Key word(s): Acquisition
15.06.2022 / 17:23
The issuer is solely responsible for the content of this announcement.
On 15 June 2022, subsidiaries controlled by Metro AG and Bronze Properties S.à.r.l. signed a share purchase agreement for the acquisition of 100% of the shares of Makro Cash & Carry Belgium NV’s operational business and Metro Delivery Service NV for an undisclosed sum.
Makro Cash & Carry Belgium wholesales grocery products and offers a range of food, fruits, vegetables, detergents, and non-food products. Throughout Belgium, the Company operates 6 Makro stores, open to the general public, and 11 Metro stores, serving many independent HORECA businesses.
Makro Cash & Carry Belgium has been part of the Metro group since 1970 and the decision was taken to sell the Belgian operations in view of their ongoing challenging financial performance.
Bronze Properties S.à.r.l. is a portfolio investor. It owns a range of companies in the industrial, infrastructure, energy and real estate space, and has teamed up with retail specialist and financing partner GA Europe.
Wolf Waschkuhn, Chairman of Bronze Properties S.à.r.l., comments: “The acquisition of Makro Cash & Carry Belgium NV and Metro Delivery Service NV offers exciting opportunities for a specialised portfolio investor like us. We see a raft of viable and profitable activities within the Company. As the new shareholder, we will take the opportunity over the coming months to review the Belgian operations in more depth. At Makro Cash & Carry Belgium, we found a strong and competent management team and are delighted that this management team, under the leadership of Vincent Nolf, will continue running the business while we explore the strategic options available.”
Vincent Nolf, CEO of Makro Cash & Carry Belgium, says: “Today we are starting a new chapter in the Company's history with a new owner. Together with the management team and all our employees we will show our customers that they can continue to trust us and can count on our commitment, professionalism and know-how to serve them better than anyone else in the market”.
Dr Tino Bauer, Managing Director of GA Europe, adds: “We have long viewed Makro Cash & Carry Belgium NV and Metro Delivery Service NV as an attractive opportunity and are delighted to have been able to team up with Bronze Properties. Belgium, with a GDP per capita in the same region as Germany and showing strong growth in 2021, offers exciting retail opportunities despite the fact that successful channels and retail concepts continuously evolve as consumer preferences and shopping styles do. Having in-depth retail experience and strong financing capabilities across Europe as well as a seasoned team of retail executives, we are looking forward to working with the Makro and Metro employees, the management team and Bronze to help create a new profitable and sustainable future for the Company.”
15 June 2022
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