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Online discount supermarket Motatos has been acquired by the parent company of Discount Dragon for an undisclosed sum.
The news comes after Motatos’ recent announcement that it is exiting the UK market with immediate effect.
The Swedish retailer launched in the UK in June 2022 offering discounts on food brands, such as Heinz, Cadbury and Kellogg’s, with savings of up to 60% compared to other grocery stores.
In an official announcement on its website, Motatos attributed the move to exit the UK market to tough trading conditions. The grocer will now keep operations in the Nordic regions, Germany and Austria.
Retail Week reported that Martin Higginson, chairman of Discount Dragon’s parent company, said: “We are delighted to complete the acquisition of Motato UK which is a natural fit to complement our Discount Dragon brand.
“At a time when consumers are struggling with the cost of living and looking to seek better value, we believe we are well positioned to offer everyday essential at heavily discounted prices to the mass market.”
