METRO Austria is taking over AGM, including 9 wholesale stores as well as the delivery business belonging to the operating locations and the company headquarters in Salzburg, with a total of more than 20,000 customers. These businesses generated total sales of circa €125m in 2019. Through this transaction, METRO Austria will expand its regional network with currently 12 wholesale stores and associated delivery business and will strengthen its positioning in the wholesale sector and at the same time create an additional offer for local customers. It is expected that the stores and delivery business with a total of more than 400 employees will continue its operations under the METRO Austria brand, and will be fully integrated in the METRO network within the next few months. The terms of the transaction were not disclosed.
“After Aviludo, Davigel and Filpromer, the acquisition of AGM stores is a logical next step to further strengthen the service offering for our customers and our reach – physically and in terms of delivery. These transactions enable us to offer our customers real added value in terms of products and services while at the same time further expanding our position in the wholesale sector in Western Europe,” said Dr Steffen Greubel, CEO of METRO AG. “We have meanwhile successfully completed the previous acquisitions and are convinced that they will contribute to our strong market position and further growth in the respective countries. In line with METRO's delivery and HoReCa business, the operating business of all of these companies has clearly picked up speed in recent months. Similarly, we expect a positive contribution from the acquisition of the AGM stores in Austria. Overall, METRO is emerging stronger from the pandemic, continues to gain market share organically and is actively seizing the opportunity to drive the consolidation of the highly fragmented wholesale industry.”
