BUSINESS

Metro invests 100 mln euros in Veropoulos

TAGS: Business

Expanding supermarket chain Metro, which owns MyMarket and recently bought out the Greek network of Veropoulos, intends to invest a total of 100 million euros in the modernization of Veropoulos supermarkets up to 2018, according to the company’s managing director, Aristotelis Panteliadis.

Speaking at a ceremony during which he received the Manager of the Year 2015 award from the Hellenic Management Association (EEDE) this week, Panteliadis also stated that his company will complete the expansion of its headquarters at Metamorphosis, northern Attica, in the next few days in order to house the additional 100 employees who entered the company from Veropoulos upon its acquisition a few months ago.

Following the completion of its investment plan, within the next two years, the retailing company is expected to enjoy annual turnover of 1.5 billion euros. It will also have a total of 10,000 employees as it intends to make some 1,000 hirings to cover the new positions in its network that will expand to 280 outlets, including its Metro Cash and Carry chain.

Panteliadis took over as managing director at Metro in 2002, and the company reported turnover of 737 million euros last year.
 

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