Continuing consolidation in Germany

The Distributa group of companies and the Globus specialist stores (Globus building and DIY stores and Alpha Tecc electrical stores) have signed contracts for the sale of the Hela specialist stores to the company known as Globus Fachmärkte, according to an announcement from the head office of Distributa in Saarlouis. The Hela specialist stores include 32 large-format Hela Profizentrum outlets with four different distribution channels: Hela Baupark, Hela Gartenmeister, Hela Autoteilepark and Hela Wohnexpress. Globus Fachmärkte operates 51 Globus DIY stores and nine electrical specialists. The sale is subject to agreement by the monopolies commission. A decision is expected in the fourth quarter of 2007. The administration of the company will remain with the management based in Saarlouis until that time.