A European auction is set to take place for the Italian furniture chain retailer Mercatone Uno. Binding offers must be submitted by 6 pm on 7 September 2016, the auction’s starting price is €280m.
In 2015 the company had already received 53 offers for acquisition from companies including Kingfisher, Conforama and Maison du Monde.
Mercatone Uno was founded in 1978 by Italian entrepreneur Romano Cenni. The company has 79 stores (the average floor area per store is 6,000 square metres).
In 2016 Mercatone Uno is expected to generate a turnover of €400m, and a turnover of €530m in 2017.
Thanks to good relations with the trade unions, a large number of existing jobs will be secure after the aquisition.
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