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Spar Magyarország opens HUF 317 mln unit in Budapest

Pharma

Retailer Spar Magyarország yesterday opened a HUF 317 mln unit on Vaci út 34 in Budapest, with a total area of 500 sqm, the company said in a press release.

Spar reportedly said in a statement that the company will focus on expanding its franchise network in the country this year, in line with plans announced earlier.

"The company has invested more than €1 bln in the past 24 years in Hungary, with investments of €55 mln only last year," Spar CEO Erwin Schmuck said at the opening ceremony. The CEO noted that last year’s investments created approximately 800 jobs in the country.

Spar is committed to further expansion despite the "changed economic environment in the country", the CEO noted referring to the increased oversight fee and the changes in consumer behavior following the Sunday closures.

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