SPAR enters China market

SPAR, the world's largest food retailer, announced plans to enter the Chinese market following the conclusion of a joint-venture agreement with Shandong retailer Jia Jia Yue Supermarket Co Ltd. The Amsterdam-based company said the JV plans initially to open 15 new hypermarkets across Shandong over the next three years. SPAR International has nearly 16,000 supermarkets in 30 countries, with retail sales of US$341bn. Ownership and management of the new stores will be the responsibility of Jia Jia Yue while SPAR will provide IT and management expertise to help the operation compete effectively with other multinationals, the two companies said.