Rewe to convert Nyam Nyam stores in Russia by end of year

Rewe has told just-food.com that the retailer intends to convert its recently acquired Nyam Nyam supermarkets in Russia to its BIOP banner by the end of this month. The outlets are being acquired through Rewe's Austrian subsidiary Eurobilla. The company declined to disclose the financial details of the transaction. Rewe has highlighted the importance of expansion beyond the Moscow and St Petersburg markets and is looking to the cities of Tula, Kursk and Voronezh to fuel growth. “For the time being, we will concentrate on [these] regions,” the spokesperson said. Rewe did not rule out the possibility of further acquisitions in Russia. “We are continuously observing the market,” the spokesperson added.

planetretail.net