Jumbo could merge with Colruyt - report (translated)
08 NOV 2017
Netherlands-based Jumbo Supermarkten B.V. could merge with its Belgian industry peer Colruyt Group [EBR:COLR], De Financieele Telegraaf reported.
The Dutch newspaper published an analysis, without citing any sources, after Jumbo CFO Ton van Veen said earlier this week in an interview with a Belgian magazine that in coming years he wants to enter the Belgian market.
This can only happen by means of an acquisition or merger, according to the newspaper. Colruyt would be the most obvious partner for Jumbo, because the two companies are mainly family owned and are similar in size, the report continued. Turnover of Jumbo is EUR 6.6bn, while Colruyt has revenues of EUR 5.7bn, the item added.
Jumbo is based in Veghel, the Netherlands. Colruyt is based in Halle and has a 31% market share in Belgium, the item added.