Danish Billion-Dollar Business: Salling Group Buys Proshop
12 Articles
12 Articles
Salling Group is making its second largest acquisition to gain a stronger position in areas beyond grocery.
Salling Group makes its second largest acquisition to gain a stronger position in areas beyond groceries
The Salling Group, which owns the Netto chain of stores, aims to expand its online shopping footprint. The announced transaction aims to strengthen its offerings beyond the grocery segment and deliver competencies it intends to leverage across the entire Group. Completion of the acquisition still requires regulatory approvals.
Salling Group acquires one of Denmark's largest online stores, Proshop, and has major growth plans.
The Netto and Føtex group is buying the Aarhus-based webshop Proshop. The price is undisclosed, but the deal is bigger than the acquisition of Tesco's Polish business for 1.5 billion kroner.
Online retail in Europe is reaching a new level. Danish giant Salling Group is acquiring Proshop, one of the Scandinavian leaders in online retail, with a turnover exceeding DKK 4.4 billion. This acquisition is expected to revolutionize the electronics and consumer goods market in the region.
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