The real estate group CPI has acquired the company that owns the COOP grocery chain in the Moravia region of the Czech Republic. Hospodářské noviny says the real estate produces rental income of CZK 60 million, while its profit was CZK 10m for the first eight months of 2015. CPI bought the company that owns the real estate, Gerosa – JMB, which owns the properties (estimated to be worth CZK 114m) in which the 70 COOP stores operated. The company had cash reserves from profits of CZK 440m according to its 2014 annual report.
