Kretinsky last year said he would make his next moves dependent on Metro’s progress in selling its China unit and the hypermarket chain. Metro has focused on its wholesale operations after separating from its consumer electronics arm in 2017. Tomorrow is different. You can find more information under Data Privacy and can adjust the settings for cookies there at any time. Any transaction would be Sysco’s biggest ever and mark the first major move by Chief Executive Officer Kevin Hourican, a former top manager at CVS Health Corp., since he took the reins of the $35 billion company earlier this year. It performs group management functions, particularly in the areas of finance, controlling, legal and compliance. We think ahead, with a view to the future. Arranged for you: All important documents, information materials and pictures for download. For details, please refer to the, The AdmiralCloud videos embedded on these pages use a number of cookies for distribution and display. Sysco Corp. delivery trucks sit parked outside the company's distribution center in Louisville, Kentucky. We give everything for our customers. The group’s digitalisation activities are bundled under Others. Sysco has made fresh overtures to Metro in recent weeks, after first expressing interest in buying a stake last year, said the people, who asked not to be identified because talks are private. These include cookies that are necessary for the operation of the site. Metro’s management at the time opposed the deal, arguing it was highly leveraged and would restrict the company’s strategic leeway. For continuous improvement of our offers and services we invite visitors of our website to rate their user experience. The data is collected and analysed anonymously. We make clear decisions. METRO is a partner of many small and mid-sized independent companies. SHV opened the first Makro in Amsterdam in 1968. German retailer Metro AG said on Tuesday that fourth-quarter profit rose 12 percent as the company boosted sales, but reported a fall in full-year earnings and said it was considering selling its Kaufhof department stores. For us. Dear visitor, Strong. Procurement and product range composition. And for our customers. This cookie stores which cookies were acccepted or denied. Metro would offer Sysco access to hotel, restaurant and catering clients throughout the continent. Updates with Kretinsky, Meridian, Beisheim, analyst comments from seventh paragraph. Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For details, please refer to the, The YouTube videos embedded on these pages use a number of cookies for display. The group is headed by METRO AG, which acts as the central management holding company. We continuously seek new challenges. METRO has clearly endorsed a ratification of the UN Convention against Corruption in the interests of responsible lobbying. To experimentation. They closed up 19% in Frankfurt, giving the company a market value of about 4.5 billion euros ($5 billion). We follow up our words with deeds. We drive innovation forward. This means that we have undertaken to observe the register’s code of conduct. Metro would be “a perfect match from a regional perspective,” for Sysco, Baader Helvea analyst Volker Bosse wrote in a note to clients, adding the suitor “could create a lot of cost synergies by downsizing Metro’s headquarters functions.”. The Others segment also includes the service companies METRO PROPERTIES, METRO LOGISTICS, METRO-NOM, METRO ADVERTISING and METRO SOURCING. We are driven by results in our thinking and actions. Read more. Central management and administrative functions for METRO Wholesale are anchored within METRO AG. A representative for Kretinsky declined to comment. Have a confidential tip for our reporters? Sysco Corp. has approached German wholesaler Metro AG about a potential takeover, as the U.S. food distribution giant explores ways to expand in Europe, people with knowledge of the matter said. Sensei uses overhead cameras and artificial intelligence software to detect what’s picked off shelves and calculate the bill. We tackle challenges head-on. Efficient. We cultivate long-term business relationships and establish sustainable networks. For details, please refer to the privacy policy of the service provider mentioned in the description. Can India's telecom woes be blamed on excessive regulation? This cookie stores the filters selected by the visitor for the publications overview. The companies are working with advisers, though discussions are at an early stage and may not lead to a transaction, the people said. Ownership of the worldwide chain of stores is split between two companies: Metro AG in Europe and SHV Holdings in Latin America.
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