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FINANCIAL NEWS
Netherlands’ Spar to open 10 stores in Lebanon
27 May 2013
(MENAFN) Spar International CEO, Dr Gordon Campbell, announced that the Dutch supermarket chain plans to launch 10 stores in Lebanon during the coming 5 years, with the first to open at the start of 2014, reported Arabian Business.
Campbell added that the openings will comprise supermarket, hypermarket and convenience store formats.
The largest co-operative of independent food retailers and wholesalers in the world operates a ‘voluntary chain’ model, which sees close co-operation of independent retailers and wholesalers underneath its brand.
The company is planning to expand its presence in the Middle East with the opening of 30 stores across the region in two years, of which 8 will be in Abu Dhabi and 2 in Qatar, while other locations include Oman and Saudi Arabia.
It is worth noting that Spar operates over 12,000 stores across 35 countries globally at the current time.
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BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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