Spar acquires 100% of shares in wholesale partner NÖM

NÖM to continue as an independent company under the Spar banner

Deal strengthens Spar's position in the Austrian dairy market

Spar Austria has acquired 100% of the shares in wholesale partner NÖM. The move will see NÖM continue to operate as an independent company under the Spar banner.

The acquisition, which was approved by the Austrian Federal Competition Authority, will strengthen Spar's position in the Austrian dairy market. NÖM is one of the leading dairy companies in Austria, with a strong presence in the retail and foodservice sectors.

Spar Austria CEO Gerhard Drexel said the acquisition is a "strategic step" for the company.

"NÖM is a great fit for Spar, and we are excited to welcome them to the group," he said.

NÖM CEO Alfred Berger said the company is "very pleased" to join the Spar family.

"We are confident that this partnership will enable us to continue to grow our business and provide our customers with the high-quality products they have come to expect from NÖM," he said.

The acquisition is expected to be completed in the coming weeks.