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July 16, 2021updated 11 Nov 2021 12:09pm

SPAR Hungary invests $6.2m to expand store network

The retailer has opened supermarkets in Budapest and Sopron as part of the investment.

Multinational food retailer SPAR has invested €5.3m ($6.2m) to continue expanding its store network in Hungary.

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With this investment, the retailer has opened two supermarkets in residential areas of Budapest and Sopron respectively.

SPAR Hungary invested more than €1.2m ($1.4m) in the Budapest supermarket, located in the city’s Allure Residence.

Operated by 20 team members, the store offers a diverse range of products similar to larger SPAR supermarkets in the country.

The Sopron supermarket, which opened last month, is located in the north-western part of town between a residential area and Sopron University. The store required an investment of more than €1.1m ($1.2m).

The store’s design is inspired by SPAR Hungary’s latest design concept, with an extensive selection of fresh produce offered in a ‘market’ style and a selection of convenience items and baked goods near the entrance.

The store is operated by 29 team members.

SPAR Hungary has also redesigned its supermarket in Mosonmagyaróvár as part of its ongoing modernisation programme.

With a €1.7m ($2m) investment, the company added signs to highlight locally sourced products and coolers for convenience products, as well as expanding the bakery department.

It also replaced all furniture and equipment and installed self-service checkouts, energy-saving light-emitting diode (LED) technology and an eco-friendly heat pump system.

SPAR has also modernised its supermarket in Szentlőrinc with a €1.3m ($1.5m) investment.

Reopened on 17 June, the store now features a redesigned interior layout intended to ensure easy navigation.

The store offers a wide range of fresh produce and convenience products.

In September, SPAR Hungary invested around Ft4.5bn ($14.41m) to strengthen the capacity of its distribution centres in Bicske and Üllő.

Originally founded in the Netherlands, SPAR has been operating in Hungary since 1992. The retailer currently employs 17,881 people across the country.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.