Retailer Auchan bought Cora's seven hypermarkets and the adjoining shopping malls in Hungary at the end of 2011, the companies have announced. Both retail chains are also present on the Romanian market. The deal in Hungary  is expected to be completed in the first quarter of 2012. Its value was not made public.

In Hungary, Cora runs under the name Magyar Hipermarket. It currently has three stores in Budapest and its suburbs and four in other cities, and 2,700 employees. Auchan Group runs 12 hypermarkets in Hungary and 11 shopping malls. Auchan Hungary, which opened its first store in 1998, posted revenues of EUR 816.4 million in 2010. It currently has 5,600 employees.

Auchan entered the Romanian market in 2006 and currently runs nine hypermarkets, according to its website. It has 3,000 employees.

Cora, part of Louis Delhaize Group, was in cards for a EUR 210 million loan from the European Bank for Reconstruction and Development in fall 2011, to fuel the expansion of its hypermarket chain in Romania.

Corina Saceanu, corina@romania-insider.com

(photo source: Auchan)