Jeronimo Martins plans to invest €120m by 2006 in Polish retail chain (PL)

Portuguese retail group Jeronimo Martins plans to invest some € 120 mln between now and 2006 in expanding Biedronka, Poland´s biggest discount retail chain, said a company official, cited by the daily Jornal de Negocios.

An annual investment of 40 mln eur will be made and about 60 hypermarkets will be opened per year over the next two years, the company said. Biedronka, which employs almost 10,000 people, currently contributes 28.9 pct of the Portuguese group´s sales.
Source: Freeman

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