B&M Retail

B&M Bargains is on the verge of acquiring a majority stake in German discount retailer JA Woll Handels.

The acquisition would mark the discounter’s first move outside of the UK. It had previously scouted France and the Netherlands for joint venture opportunities.

JA Woll Handels, which primarily sells budget general merchandise, operates over 50 stores under the Jawoll and Hafu facias. Its estate, which is in the north west of Germany, would be expanded to the south as part of the deal and JA Woll Handels’ management would hold the remaining stake in the business.

B&M’s co-owner Simon Arora told The Grocer: “Jawoll’s customer proposition is remarkably similar to that of B&M. It has a leading position in the north west of Germany, and we are excited to working with its management team to help it mature into a national business in that way that B&M has done this last five years.”

B&M Retail, which is chaired by Sir Terry Leahy, is also believed to be nearing a £2bn stock market flotation. Private equity firm Clayton Dubilier & Rice (CDR), which owns a 60% controlling stake in B&M, has hired investment bank Lazard to prepare the IPO.