UK variety retailer B&M has confirmed it is looking to acquire a majority stake of German discount firm JA Woll Handels.
The acquisition attempt is the value retailer’s first venture outside the UK.
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Asked by just-food if B&M was on the verge of acquiring a majority stake in the business a spokesperson responded: “That is correct”.
JA Woll Handels currently operates 49 stores under the Hafu and Jawoll fascias and claims to be a “market leader in the north west” of Germany where it is the second largest “out-of-town” discounter.
The spokesperson said the move was part of B&M’s “planned acquisition of majority stakes” in European retail businesses.
“They’ve said for some time there’s potential for European expansion – this is a venture into the continental European market. This company has grown rapidly under current ownership and wants to accelerate further,” she added.
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