- METRO Cash & Carry exits the Danish market
- Stores in Glostrup and Aarhus sold to Euro Cater – c. 300 jobs safeguarded
- Closure of three other stores – Agreement with employee representatives and unions reached
Within the context of its recent considerations to withdraw its wholesale business from Denmark METRO GROUP has signed an agreement to sell parts ofMETRO Cash & Carry Denmark to Euro Cater, a market leading food service company in Denmark and Sweden. Euro Cater will take over the stores in Glostrup and Aarhus and integrate them from December on in its Danish distribution network. By this step c. 300 jobs in these two stores will be safeguarded. The transaction is subject to approval of the Danish antitrust authorities which is expected until end of November.
Furthermore, METRO GROUP has decided to close the other three wholesale stores in Denmark and thus to exit the Danish market. Effective 31 December 2014, the stores in Aalborg, Kolding and Copenhagen will be closed. An agreement for the c. 400 employees in these stores and the headquarters of the Danish operations has been negotiated and agreed on with the employee representatives and the unions. The rationale of the decision is that the Danish market is considered saturated so that it does not offer satisfactory prospects for growth while METRO Cash & Carrywith only five stores in the country does not reach the critical mass.