Metro sells its Galeria Kaufhof chain
Canada's oldest company, Hudson's Bay, has won the bidding war for German department store chain Galeria Kaufhof, parent company Metro AG said Monday.
The announcement came just hours after a late-Sunday meeting of Metro's supervisory board, which unanimously approved the sale. The deal will set back the Toronto-based buyer 2.8 billion euros.
The takeover marks the end of an era for the iconic Kaufhof, which was founded in 1879. When Hudson's Bay is handed the keys in September, it will be the first time in history that the future fate of the German company will be decided by foreign owners. (MTI)
Related news
The future has already begun – thoughts on Innovation Day
How will innovations shape the future of retail and the…
Read more >Metro Partners With Multicedi In Italy, Makro Expands In Spain
Italian wholesalers Metro Italia and Multicedi have partnered to support…
Read more >How do you have your coffee, shaken or stirred?
This article is available for reading in Trade magazin 2025/5.…
Read more >Related news
Location becomes a competitive factor in e-commerce
As digitalisation and consumer expectations evolve rapidly, logistics and warehousing…
Read more >Gyermelyi is strengthening in exports – adapting to the challenges
Based on the 2024 financial report of Gyermelyi Zrt., it…
Read more >Voluntary Water Donor Program Launches in Budapest
10 million Trees, the Budapest Municipality, the Főkert and the…
Read more >