Tengelmann selling up in Poland and Portugal

The Tengelmann group of companies has found a buyer for the foreign outlets of the Plus Warenhandelsgesellschaft mbH in Poland and Portugal in the Jerónimo Martins Group. The 145 shopping centres developed by Tengelmann in both countries are not included in the sale and are to remain in the family firm’s portfolio in the long term, according to a press release. The Portuguese company Jerónimo Martins operates in the Polish market under the name Biedronka. In its home market the company operates 210 Pingo Doce supermarkets, which are now strengthened by the acquisition of the 75 Plus stores and sales of approx. € 167 mio.