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Metro buys Belgium's Inno,
makes Kaufhof international Metro's department store company Kaufhof takes over Belgian Inno. With 15 department stores, the company employs 1,600 workers in Belgium's major towns. Most of the department stores will be operating under Kaufhof's Galleria concept. Inno's sales last year were some 225 million Euro (200 million USD). In Germany, Kaufhof has 30,000 workers in 132 stores. Until now, Metro's department store chain has not operated outside Europe, unlike Metro Cash & Carry, Real and Media-Saturn. During this year, the company has repeatedly said that it intends to expand the Kaufhof operations also to other European countries. The take-over of Inno must be approved by the European Commission. |
