Kerdos has letter of intent with Carrefour
13:52
Luxembourg-based Meng, a chain owned by Kerdos holding, has signed a letter of intent with Carrefour Belgium Retail Association in line with which, Meng will start operating as a franchisee of Carrefour Express stores, a press release says. Thanks to this cooperation, Kerdos' business in Luxembourg may grow by 2-3 times.
"We are opening the other 'business foot.' We are going to strengthen our leading position in the market and to operate a food store network, having the world's largest retailer as a partner," Kamil Kliniewski, CEO of the company said.
The agreement with Carrefour is expected to be signed in August.
On Monday, the company launched a dual-listing on the Frankfurt Stock Exchange (FWB), the release also reads.
Kerdos, through its subsidiary DC Service, owns a 25-percent stake in Luxembourg's Meng network.
Kerdos is a holding company focused on trade operations in the hygiene and household cleaning product segments. It recorded PLN 220 million in revenue in 2014.
