First step in European market?
Metro’s department store subsidiary Kaufhof, which includes the Belgian Galeria Inno chain, has attracted a new possible buyer. According to the German media, Canadian Hudson’s Bay is willing to pay 3 billion euro for Kaufhof, fractionally more than the 2.9 billion euro Austrian investment firm René Benko has tabled as a bid. René Benko already owns Karstadt, another German chain of department stores. Metro has refused to comment on the news.
Toronto-based Hudson’s Bay is not yet active in Europe, but runs more than 300 stores in Canada and the United States. Those include fashion chains Lord & Taylor and Saks Fifth Avenue and kitchen specialist Home Outfitters.
