Ahold today announced the completion of its purchase of 78 C1000 and 4 Jumbo stores from Jumbo, strengthening the position of its Albert Heijn banner in its domestic market, the Netherlands.
The deal, which was announced on 26 April, earned Jumbo €290 million in cash for the 82 stores, which had combined sales of approximately €800 million in 2011. Albert Heijn will start to convert 14 of the stores to its banner while the other stores will change over a period of time, in close cooperation with the entrepreneurs who own them.
A strategic purchase, the deal is part of the Dutch retailer's strategy for growth through expanding its geographic reach by acquiring stores in and adjacent to existing markets. 57 of the 82 new stores are located in areas where Albert Heijn does not currently operate.
“This step gives us the opportunity to combine strong local entrepreneurship with the power of the Albert Heijn formula. Customers will be able to shop at stores in areas where – until now – we’ve not been able to serve them conveniently,” said Sander van der Laan, COO, Ahold Europe. (14 Aug)
© 2012 ESM European Supermarket Magazine
