Czech discount fascias to merge

Mülheim an der Ruhr, Germany: German retailer Tengelmann has sold its 146 Plus stores in the Czech Republic to rival retailer Rewe Group for an undisclosed sum. Rewe Group will merge Plus with its Penny fascia to create the biggest discount retailer in the Czech Republic, with sales of €1bn (£764m), 300 stores and 4,000 staff. "I believe our stores and employees will be in the best hands," confirmed Karl-Erivan Haub, managing partner and CEO of Tengelmann.