Metro Group AG Spins Off Independent Companies In Food, Consumer Electronics

Germany’s Metro Group is spinning off two independent companies as part of a “demerger” in the wholesale food and consumer electronics markets. The wholesale food spinoff will be called simply Metro AG, and the electronics company will be known as Ceconomy. Metro AG will specialize in wholesale and food retail; primarily comprising Metro Cash & Carry and Real, in addition to delivery specialists and other companies. Metro is already operating in 35 countries with local wholesale companies and delivery specialists (Classic Fine Foods, Rungis Express, Pro à Pro, Midban). Metro Cash & Carry gives entrepreneurial freedom to the individual countries, allowing for greater customer focus. For 13 consecutive quarters, like-for-like sales at Metro have increased and profits have “improved substantially.”