As I reported on July 16, German Discounter ALDI has announced to fold and close down its Greek investment ALDI Hellas.
Mother ALDI Sud decided to kick out of family’s home the Greek daughter ALDI Hellas deeming her as “not sustainable”. But the daughter – sustainable or not – has a dowry: 38 selling branches and 100 real estate properties. Of course, the Greek daughter has her own family to feed: 720 employees, who on their part feed their own families. The latter is rather a contra-productive argument for any investor in spe. Especially in these IMF-recession days, where consumers cannot but cut also in supermarket spending. Families to feed can be considered a weight to the well-shaped legs of any daughter bride. Nevertheless, the new labor laws and the fact that ALDI opened in Greece two years ago will make it possible for any investor to chuck the small but many families the daughter feeds.
Grooms queue up
I read in Greek Imerisia-daily an interesting article about the future buyers. Big supermarket chains are queueing outside the door of Mama ALDI, who wants to sell her daughter as soon as possible or at least before the end of the year. As far as I read the some of the grooms target the daughter as a whole, some others only parts of her (Pleased with Shank? Or Head? Or Just Breast?)
International media report that Belgian Delhaize Group, controlling the 216 stores of AB Vassilopoulos supermarket chain, has showed serious interest in ALDI Hellas.
Although e has declined to officially accept any relevant move, www.just-food.com quotes Delhaize spokesman as saying that the company is “looking to opportunities in the region” and that in Greece “there is a lot of room for growth.” If I personally hear such a thing, I would go so far and consider a date with the guy…
Carrefour Marinopoulos is a reportedly a candidate too, with more interest to certain real estate properties than the whole network of stores. According to Imerisia-daily Carrefour might consider also acquainting some ‘strategic selling points”.
Most promising groom appears to be ALDI’s main competitor LIDL Hellas. WOW! That would be for sure a successful marriage in old fashioned style when a daughter had to give up her identity and surrender to her groom, did she love him or not.
There not seem to be pure Greek candidates. Sklavenitis andGalaxias supermarkets consider a bilateral cooperation in establishing a supplier company. Massoutis supermarket chain considers to buy the Atlantic chainthat had seeked protection from its creditors oweing them some EUR 20 million.
Whole story in Imerisia (in Greek): http://www.imerisia.gr/article.asp?catid=12334&subid=2&pubid=46743149
