The discounter Tedi acquires 84 locations of the low-cost non-food provider Pfennigpfeiffer.
With the takeover, Tedi GmbH & Co. KG is expanding its presence in Germany to 2,000 locations. Pfennigpfeiffer Handelsgesellschaft mbH, founded in 1990, has branches in Bavaria, Berlin, Brandenburg, Mecklenburg-Western Pomerania, Saxony, Saxony-Anhalt and Thuringia
5000 branches in Europe
“In addition to strengthening our successful business model, the takeover of the branches brings us closer to our goal of expanding our network to 5,000 locations in Europe in the medium term,” said Tedi managing director Petar Burazin in a statement on Friday. “Pfennigpfeiffer’s area profile in particular fits our requirements in terms of catchment area and retail environment excellently.”
During the takeover, it was important to everyone involved to find good solutions for employees. These were all taken over, says Tedi.