Pepco to launch in Austria following store leases acquisition
Pepco Group is to launch in Austria after agreeing to acquire up to 29 store leases in the country.
The owner of the Pepco and Dealz brands in Europe and Poundland in the UK said a framework agreement has been signed between Pepco Poland and CCC Austria that will provide an immediate nationwide footprint of stores in proven locations.
Completion is expected to take place by the end of September to enable the stores to trade throughout the fourth quarter of the year.
Austria will be Pepco Group’s 17th territory and the 15th for the Pepco brand following recent openings in Italy and Spain. When the Poundland and Dealz brands are included, the group currently operates more than 3,200 stores across Europe.
Andy Bond, Pepco Group chief executive, said: “Following Pepco’s successful launch in both Italy and Spain, the signing of this agreement is a further statement of our confidence in the compelling proposition that we believe Pepco brings to customers across the entirety of Europe.
“We are confident that the combination of market leading prices, product quality and choice that Pepco is famous for combined with the high quality stores we are acquiring will prove a winning combination to our new customers in Austria, as a key part of our ambitious plans to become Europe’s pre-eminent discount variety retailer.”