Business · Companies · 12 hrs ago

Vollcorner challenges Edeka’s planned takeover of Tegut stores

Vollcorner challenges Edeka’s planned takeover of Tegut stores

Munich organic retailer Vollcorner has challenged Germany’s approval of Edeka’s planned takeover of 178 Tegut supermarkets and other business units.

The challenge focuses especially on about 15 Tegut stores in Munich, where Vollcorner already runs 21 organic markets.

The company says the deal could raise competition concerns and is reportedly interested in some of the locations.

The Düsseldorf Higher Regional Court will now examine whether Edeka may take over the stores.

Germany’s competition authority has already barred Edeka from buying 24 Tegut stores, mostly in Hesse, and Migros is seeking other buyers for them.

Migros Zurich is selling Tegut as part of its withdrawal from the German market after years of losses.

Vollcorner’s challenge could delay or partly block the sale, but it has not yet applied to suspend the deal while the case is reviewed.

Sources

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