Hungarian billionaire’s group acquires 47% stake in Auchan Magyarország, takes over management
Hungary’s Indotek Group has closed the acquisition of a 47% stake in Auchan Magyarország and will take over operative management of the retail chain, the commercial real estate company, majority-owned by Dániel Jellinek, said on Wednesday.
With 19 hypermarkets and five supermarkets with a combined area of over 250,000 sqm, Auchan Magyarország controls around 6.8% of Hungary’s retail market. It also operates 19 petrol stations. Auchan Magyarország had a revenue of HUF 460 billion (EUR 1.11 billion) last year. It employs around 6,000 people.
Auchan. Source: Wikimedia Commons/Lionel Allorge
Indotek Group operates more than 50 shopping centres and retail properties in Hungary and abroad.
The Group has agreed to acquire Ceetrus Hungary and Nhood Services Hungary to make it the sole owner of smaller storefronts at Auchan Magyarország’s locations. That transaction is in the process of closing.
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1 Comment
I used to do a lot of shopping there years ago and in the last year I stopped shopping there because everything became much more expensive (compares to Lidl, Aldi). Now I know why-Hungarian ownership. Everything Hungarians touches turns to Sh!t!