Scotts supermarket in €35 million outlet sale to discount giant Lidl

Four supermarkets from the Scotts chain are to be acquired by the Lidl discount supermarket chain.

The transaction is under the evaluation of the Office for Competition, a Lidl company spokesperson confirmed with MaltaToday on Sunday.

This newspaper understands that the value of the transaction is for €35 million for the entire transfer of buildings and land.

“This agreement concerns just the transfer of a certain number of real estate properties belonging to Scotts group, which will continue operating in the shops that are not part of the transfer. Currently Lidl is not planning any significant or structural changes on the buildings which will be part of the transfer,” the spokesperson said.

Scotts is a family-run operation owned by the Said Investments company, was previously the owner of the Peter Blond clothing company. In 2002 it launched its supermarket brand in Naxxar, and then took over former Nicholsons outlets in Attard and Sliema, with a central warehouse in 2003, and another four in Burmarrad, Santa Lucija, Zabbar and Fleur-de-Lys.

The international discount store Lidl opened its doors in Malta in 2008 and since then has grown to eight stores.

In 2017, Said Investments reported a turnover of €38 million, with just under €1 million in pre-tax profits. Lidl reported a massive turnover of €182 million in 2019, with pre-tax profits of €30 million.