The Competition Office has approved XXXLutz Group’s recent acquisition of the Kika retail network in Hungary, stating that the deal will not “reduce competition.” The Austrian company also owns the Momax home furnishing chain in Hungary. XXXLutz signed the contract in spring to purchase 22 Kika stores in Hungary, the Czech Republic, Slovakia and Romania from Signa Holding. This acquisition also includes the network’s 1,500 employees. The price was not disclosed.
