Auchan is to buy Hungarian firm Magyar Hipermarket from Belgian retailer Louis Delhaize.
Louis Delhaize, which acquired Magyar in 2007 and operates the stores under the Cora banner, has announced the sale of seven hypermarkets and the adjoining shopping malls for an undisclosed fee. The transaction, which is still subject to competition authority approval, is expected to be completed in the first quarter of this year.
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A joint statement from Louis Delhaize and Auchan Hungary said Magyar Hipermarket’s 2,700 staff will be transferred to Auchan Hungary.
Magyar Hipermarket opened its first hypermarket in 1997 and has three stores in Budapest and four in other cities. French retailer Auchan has 12 hypermarkets and 11 shopping malls in Hungary.
Louis Delhaize is a separate entity to Belgium-based supermarket group Delhaize, a retail group with operations in Belgium and the US.
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