Tuesday, October 7, 2014

“No more perspective”: Tengelmann sold his supermarkets to Edeka – ABC Online

"No more perspective": Tengelmann sold his supermarkets to Edeka – ABC Online

Tuesday, 10.07.2014, 12:58
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The retail giant Tengelmann sells its supermarkets in the previous competitors Edeka. The supermarket business writes According Tengelmann for years in the red. However, the Federal Cartel Office must approve the sale yet.

The Mülheim company announced that the remaining approximately 451 Kaiser’s Tengelmann supermarkets should go to the market leader Edeka until mid-2015. CEO Karl-Erivan Haub said: “Unfortunately, we see no future, to make our supermarkets under its own power into a profitable company.” With a market share of only 0.6 percent, the supermarket chain was too small to be on the market against the big competitors such as Edeka and Rewe to say. To find the Kaiser’s Tengelmann supermarkets are anyway only in and around Berlin, Munich and Upper Bavaria and parts of North Rhine-Westphalia.

451 branches and nearly 16.0000 Staff

For a long time the supermarkets at the heart of the family business. But in the past two decades, they evolved into becoming the biggest problem child. For 15 years, had been thus earned no money, it said in Mülheim. “To recognize that the sale of our supermarket company ultimately became inevitable, was for my family and me personally very difficult,” Haub said. But the move to employees at least offer a future perspective. Overall, almost 16 0000 employees work in 451 stores. You last generated net sales of approximately 1.8 billion euros

Tengelmann at Zalando involved

Other divisions are long for the Mülheim family even more important than the supermarket business -. Approximately the Group-owned textile discount chain KiK and Obi-yourself markets. Moreover Tengelmann was under Haubs guide one of the pioneers in the development of online trading. So belongs to the group of online retailers baby-markt.de. But the stock market newbie Zalando Tengelmann is involved for quite some time.

In addition to the Edeka supermarkets accepts the online subsidiary Tengelmann e-stores to the Internet merchant Plus.de and garden XXL.de belong. The purchase price and the contract details, the company did not specify.

consent of the Cartel is not a foregone

The Cartel must still approve the takeover, however. This is not automatic. For the Competition Authority had given the market concentration in food retailing announced a few weeks ago, continue to undergo any acquisition of a food retailer by market leaders such as Edeka and Rewe in-depth investigations.

A study of the competition watchdog had previously shown that the four largest players in the German food retail – Edeka, Rewe, Aldi and Schwarz Group with the Lidl markets and Kaufland – now have a combined market share of around 85 percent. The Authority should therefore “counteract a further deterioration of the competitive conditions consistently,” concluded President of the Bundeskartellamt, Andreas Mundt.


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