Auchan takeover green-lit – The Budapest Times

The entrepreneur Dániel Jellinek receives approval from the competition authority for the takeover of the Auchan hypermarket chain in Hungary.

The last obstacle to Jellinek’s acquisition of a majority stake in the Hungarian subsidiary of the French retail chain Auchan Hungary Kft. has been removed. The approval by the competition authority GVH supports the Orbán government’s goal of keeping a majority of the retail sector in the hands of domestic economic players. The GVH has now officially confirmed that there are no grounds for a further investigation into the takeover by Biery Investments Zrt. The negotiations between Auchan Hungary and Jellinek’s group of companies lasted three years. For a long time, the Indotek Group was rumoured to be a potential buyer, but in the end the smaller Jellinek company Biery came out on top.

Ambitious growth plans

Last November, the Indotek Group announced ambitious plans: Over the next five to six years, Auchan is to become the third-largest player on the local market – just behind Lidl and Spar, but ahead of Penny, Aldi, CBA, Coop and even Tesco. Jellinek explained that the main beneficiaries of the expansion will be customers, who will gain increased access to Auchan’s affordable and high-quality products. The aim is also to attract local food and agricultural businesses as suppliers. These can produce affordable and high-quality products; Auchan could thus establish itself as a supplier of regional products.