SPAR Group to acquire majority stake in Polish Piotr i Pawel

Finance

SPAR Group to acquire majority stake in Polish Piotr i Pawel

Wednesday, 15 May 2019 15:42 Last modified on: 15 May 2019 15:58

South African SPAR Group announced earlier today May 15, 2019, that it was about to acquire majority stake in Polish supermarket chain Piotr i Pawel.

Piotr i Pawel has 77 stores and supermarkets as well as a distribution networks in Poland.

Apart from South Africa, SPAR Group operates in Switzerland, the UK, Ireland, Angola and Sri Lanka.

South African retail companies are increasingly expanding beyond borders since it has become hard to keep its margins amid low economic growth and rising households’ debts.

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