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Retail

Delhaize Agree Deal With AP Mart To Exit Bulgaria

By square1
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Delhaize Agree Deal With AP Mart To Exit Bulgaria

Belgian international retailer Delhaize Group has signed an agreement to sell its Bulgarian operations to AP Mart.

In a statement released yesterday, Delhaize said that the transaction is expected to complete in the second quarter of the current financial year subject to regulatory approval as well customary closing conditions and working capital adjustments. 

Neither company has released the financial details of the transaction.

Delhaize operates stores in Bulgaria under the Piccadilly banner in the cities of Sofia, Varna and Plodiv.

The retailer entered Bulgaria in 2011, (picture shows opening of Sofia store) when it bought Serbia-based group Delta Maxi.

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© 2014 - European Supermarket Magazine by Enda Dowling

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