Super-Sol Ltd. (TASE:SAE; OTCBB:SSLTF) will invest NIS 80 million in converting 33 supermarkets into a new hypermarket format, branded Super-Sol Big. The new chain will replace the current Cosmos, Hyperneto and Jumbo brands, the latter which was acquired in the Clubmarket deal.
Super-Sol Big will be an interim format, after Super-Sol launched its Super-Sol Deal brand last year under its strategic plan. Super-Sol Big will have 33 stores nationwide by the end of 2006, which will operate on the one-stop-shop principle, under which both food and non-food activities will be expanded.
During the first quarter of 2007, Super-Sol will launch its neighborhood chain, Super-Sol Sheli (“My Super-Sol”), and by the end of 2006, Super-Sol will complete procedures for the launch of its private label, conversion of its customer club, and the launch of a Super-Sol brand credit card.
The supermarkets are being converted for convenient and efficient shopping, in line with an international model jointly developed with international branding firm Interbrand.
Published by Globes [online], Israel business news - www.globes.co.il - on February 27, 2006