Schlecker Group has sold its subsidiary to Système U
The co-operative retailer Système U acquires the French subsidiary of the insolvent Schlecker group together with its existing management in a share deal.
Schlecker SNC currently operates 139 drugstores mainly in the south of France. The sites are located in smaller towns and in larger centres like Nice, Marseille, Lyon, Toulon, Montpellier, Perpignan and Saint-Etienne. The company employs approximately 750 employees and generated revenues of approx. 76 million euro in 2011.
Système U is one of France’s leading retail chains with about 800 wholesalers and hypermarkets and 620 smaller shops in France and the overseas regions. The company currently employs approximately 60,000 employees and reported revenues of around 16 billion euro in 2011. Together with the management Système U plans to turn the locations of Schlecker SNC into a regional local supplier chain under the brand names and concepts of Système U and to develop it further. Thus, the employment of the French staff of Schlecker is secured and further employment will be created.
Lincoln International was appointed by the insolvency administrator of the Schlecker Group, which had to file for insolvency in January, as exclusive M&A advisor for the sale of Schlecker’s French subsidiary.
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