Spar eyes Europe expansion
This is after it bought a Polish retailer.
Spar is betting big on European expansion after buying Polish retailer Piotr i Pawel, according to Business Day.
Spar CEO Graham O’Connor (pictured) said that while a focus on Southern Africa will continue, “the opportunities for us to grow exists in the European market”, he told the newspaper.
The company is finalising the purchase of a controlling stake in a Polish deli and supermarket chain Piotr i Pawel, which like Spar SA includes franchise and company-owned stores.
Graham said Poland’s GDP is 1.5 times that of SA and that there are “a whole lot of retailers there that need a home. It is a very positive outlook over the next three to 10 years.”
Spar operates across 50 countries with 246 distribution centres. Southern Africa is its leading revenue driver.