Plus and Netto Marken-Discount to Form Joint Venture

The Tengelmann Group will in future be cooperating closely with the Hamburg-headquartered EDEKA Group.

 The new company in which EDEKA has a 70 percent stake and Tengelmann 30 percent will amalgamate the around 2,900 Plus stores with sales of over EUR 7 billion along with some 1,300 Netto Marken-Discount branches with turnover of EUR 4.1 billion. The expansion plans for the joint undertaking foresee more than 300 new store openings per year.