Acquisition of EMTÉ by Jumbo and Coop
Jumbo, in a consortium together with Coop, has reached an agreement with Sligro Food Group to acquire 100% of the shares of the food retail business EMTÉ.
The sale involves all the activities of EMTÉ: 130 supermarkets, the retail distribution centres in Kapelle and Putten, the meat facility in Enschede and the supporting operational and commercial departments at the head office in Veghel. In 2017 EMTÉ’s net sales were €828 million. Approximately 6,200 employees or approximately 2,700 FTEs are involved in these activities. In addition, EMTÉ’s supermarket real estate is sold to the same consortium simultaneously in a separate transaction. EMTÉ owns 27 retail sites.
Ultimately 2/3 of the EMTÉ business will be integrated into Jumbo and 1/3 into Coop. Jumbo and Coop have previously worked together successfully on acquisitions. Sligro and Jumbo also expect to reach agreement on a long-term contract positioning Sligro as preferred supplier of La Place, a restaurant chain owned by Jumbo since 2016. Quore Capital acted as sole financial advisor to Jumbo.
- Client: Jumbo
- Target: EMTÉ
- Buyer: Jumbo & Coop
- Seller: Sligro Food Group