Press Releases

SCP Group successfully completes acquisition of Real

by The SCP Group
27.06.2020

Luxembourg, 25 June 2020 – The SCP Group has successfully completed the acquisition of the operational business of Real. As of today, the SCP Group is the sole owner of Real’s retail business, the digital business including the online marketplace real.de and all of Real’s affiliated companies. All of the approximately 34,000 employees will maintain their current contracts under existing conditions. Further steps for the acquisition of the 80 properties and their complete transfer will proceed tomorrow. At that stage, the agreement reached on 18 February 2020 between the SCP Group and Metro AG on the 100 percent acquisition of Real will have been fully executed.

"The successful closing of the transaction is another important step towards implementing our transformative concept for all Real locations. Over the last months, we have been able to achieve significant progress in preparation of our business plan. Our focus for the immediate future is the successful execution of this transformation", said Marjorie Brabet-Friel, CEO of SCP Group. "Upon completion of the acquisition, the new management team under CEO Bojan Luncer has taken over the operational management of Real."

Upon closing, the SCP Group will assume the management of Real’s business through its subsidiary SCP Retail Investments. Together with its strategic partner, the x+bricks Group, it will also oversee the repositioning of the real estate portfolio. In the future, the joint venture will operate under the name s+bricks and provide consulting and additional services for Real GmbH specializing in retail real estate.

Since the signing in February 2020, SCP Retail Investments together with the x+bricks Group has already pursued the realization of individually viable concepts for all Real locations and was able to conclude binding agreements with retailers Kaufland and Edeka for the takeover of 141 Real stores even before the closing. The application of the planned takeovers by Kaufland with the Federal Cartel Office (Bundeskartellamt) marked a further important step. In the course of the respective Transfers of Operations, Kaufland and Edeka agreed to take over the employees of the respective Real stores.

The agreement with the Schwarz Group on the sale of real.de, Real's digital business, concluded shortly before the closing of the main transaction, is an integral part of SCP’s overall plan.

For the remaining Real stores, SCP Retail Investments, and x+bricks Group continue to examine all options, including further sales to other food retail operators as well as the subdivision of stores into smaller units. Safeguarding as many existing jobs as possible is one of the key objectives in these negotiations. Store closures will only be considered if all other avenues have been pursued. Based on SCP Retail Investments’ assessment c. 30 stores currently have no viable future.

Press contact:

Christian Falkowski
T +49 69 92 18 74-64
M +49 171 86 79 950
E scp@heringschuppener.com

Pressekontakt / press contact
Alexander Cordes
alexander.cordes@gaulyadvisors.com
Mobile: +49 151 22 66 81 10
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