Edeka's Plus Acquisition Looks Timely In Wake Of Downturn

Edeka, Germany's largest grocery retail by revenues, has reported that sales at its Netto discount division increased by 12.4% in 2008 to reach EUR4.2bn. This rapid growth contributed to Edeka's total sales increasing by 4.9% over the year to reach EUR32bn, while earnings before interest and taxes (EBIT) increased by 2.1% to EUR1.19bn. With Edeka's acquisition of the Plus chain of discount stores approved in December 2008 and the stores currently being consolidated into the Netto network, the company looks in a particularly strong position to weather the current

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