Budapest, October 18, 2023 – Indotek Group today announced the signing of an agreement to acquire a 47% stake in Auchan Magyarország Kft., and a 100% stake in legal entities that own and maintain the retail premises located in the „Korzó” promenade of Auchan stores. With this transaction, Indotek Group will appear as a financial investor in the local Auchan chain, majority owned by France’s Mulliez family. Auchan’s existing management will continue to oversee the retail operations.
This strategic partnership between the European retail giant and Indotek Group will facilitate the expansion of Auchan in the existing commercial properties of Indotek, making the favorably priced, quality product range of the store chain available to more customers in the countryside.
Today, Indotek Group acquired a 47% ownership in Auchan Magyarország Kft., the company that oversees the retail activities of Auchan, and also owns several stores, as well as Auchan’s petrol station network. Also as of today, Indotek Group maintains sole ownership of the retail units located on the Auchan “Korzó” promenades, through the acquisition of Ceetrus Hungary Kft. and Nhood Services Hungary Kft.
According to the agreement Auchan’s retail activities will continue to be managed by its current leadership post-transaction.
Auchan, owned by France’s Mulliez family, and Indotek Group, led by Dániel Jellinek, foresee new market opportunities through their collaboration.
“Every year we participate in hundreds of successful transactions both domestically and abroad, but the agreement signed with the owners of Auchan stands out for its notable synergies. As a prominent player in the property market, we can efficiently support the domestic expansion of the retail chain,” emphasized Dániel Jellinek, CEO of Indotek Group.
Dániel Jellinek further noted that the parallel presence of national and global players in retail is a general trend in Central Europe. The collaboration between Auchan and Indotek highlights this trend in Hungary.
The accelerated expansion of Auchan not only benefits customers in the countryside but, on the long run, may offer opportunities for local food and agricultural businesses to strengthen their market positions as local or regional suppliers.
„ I am delighted to welcome the Indotek group as a minority shareholder in Auchan Hungary. For Auchan in Hungary, this is a guarantee of continuity and strong development in the country. Thanks to Indotek’s expertise, we will be able to further strengthen our commercial position and open new shops across the country.
Our customers and the Hungarian people, to whom we will be able to give access to our offer of quality products at the fairest price, will be the main beneficiaries of this partnership”, said Dominique DUCOUX, Chairman of Auchan Retail Hungary.
Auchan, which holds approximately 6% of the domestic retail trade, currently operates 19 large hypermarkets and 5 supermarkets in Hungary with a total store area exceeding 250,000 square meters. The chain has 18 petrol stations.
The parties involved did not disclose the transaction’s value and stated that their cooperation is exclusive with no third party involved.
The transaction is pending the approval of the competition authority.
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Az Indotek Csoportról
Indotek Group is one of Hungary’s leading investment management conglomerates, primarily focusing on real estate investments, including the purchase, development, operation, and sale of various industrial, commercial, service, and residential properties. They also manage private equity investments and bank claims secured with real estate.
Conscious risk-taking, risk management, and long-term planning are the pillars of the group’s success, ensuring exceptional returns.
Employing over 530 individuals, the properties owned by Indotek Group exceed 350 in number, making them the market leader in B and C category commercial properties in Hungary.
The Group’s real estate portfolio includes a number of office buildings, metropolitan and rural shopping centers, hotels, warehouses, industrial areas, and retail parks. Their total built and leasable property area exceeds 2.5 million square meters, currently serving more than 4000 tenants. Indotek Group is also present in the residential property market with its housing projects.
The group is active in other industries, leveraging the synergies among its affiliated companies. Indotek Group has investments and business properties, commercial and industrial real estate, and hotels in 12 countries, including Croatia, Poland, Italy, Romania, Spain, and others.
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