Marks and Spencer buys stake in Greece’s Marinopoulos March 1, 2008Posted by grhomeboy in Business & Economy.
Tags: Business, Greece, News
Marks and Spencer Plc (M&S), Britain’s biggest clothing retailer, has bought a half share in a franchise operation in Eastern Europe as part of its drive to expand abroad.
M&S, which also sells food and homewares, said it had bought 50 percent of a venture with Greece’s privately owned Marinopoulos BV which operates 38 M&S stores in Greece, Romania and Bulgaria, as well as Switzerland, for 50 million euros cash. It said the venture planned to open 50 new stores in these markets over the next few years.