Jetro cash and carry

German retailer Metro is in talks to acquire the US cash & carry company Jetro, part of Metro's parent company Metro Holding of Switzerland. A spokesman for Metro confirmed that the talks were proceeding and look set to reach a conclusion soon. Jetro posts annual turnover in the region of US$1bn (?? 1.04bn) and represents Metro's first significant investment in the US (see Eurofood, 17 February 2000, p 18).

Metro is also hoping to buy the Asian cash & carry operations of Dutch wholesaler Makro, and negotiations are already underway concerning the acquisition of Makro's Latin American activities. In 1998 Makro sold all its European cash & carry activities to Metro, and the German group also acquired an option to buy Makro's remaining operations at the same time. Metro has identified cash & carry as one of its core areas, alongside home improvement stores and consumer electronics.

METRO JOINS GLOBALNETXCHANGE

Meanwhile, Metro has jumped on the bandwagon and joined GlobalNetXChange, the internet retailing company set up by France's Carrefour and Sears of the US with backing from software group Oracle, and recently joined by Sainsbury of the UK (see Eurofood, 16 March 2000, p2).

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