Italian retailer Conad has confirmed its new buying alliance with Swiss grocer Coop, German retail giant Rewe and Belgium’s Colruyt will be called Core.
The new partnership was devised after their previous buying venture, Coopernic, collapsed. Coopernic ended after a disagreement between the four retailers and France’s E. Leclerc over the future direction of the alliance.
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Core will, like Coopernic, be based in Brussels. The new partnership will start next month.
Conad confirmed the details of the new venture as it reported a 5% increase in annual sales. According to preliminary data for 2013, Conad said its turnover would reach EUR11.5bn, 5.4% higher than 2012.
