Indotek also takes over control of Auchan with a 47 percent stake

Auchan Hungary Ltd. and its domestic subsidiaries involved in the acquisition employ around 6,000 people, and achieved HUF 460 billion in sales revenue and HUF 27 billion in EBITDA in 2023.

The acquisition has already been approved by the competition authority, Indotek announced.

“With the experience gained from operating more than 50 domestic and international shopping centers and retail units, we can make Auchan’s operations in Hungary more efficient and effective, and with our commercial real estate portfolio, we can accelerate the domestic expansion of the well-known and beloved brand. This requires us, as a minority owner, to take a meaningful role in the management of the company,”

pointed out Dániel Jellinek, head and majority owner of Indotek Group.