NETHERLANDS: Dutch Ahold subsidiary Etos finalizes acquisition of Boots stores in The Netherlands
Royal Ahold, the international food provider, on Monday (6 November)announced that Etos, its Dutch health and beauty care store chain, has finalized its acquisition of Boots Stores The Netherlands. The transaction, announced in August, involves the 17 Dutch outlets of the British drugstore chain and boosts annualized Etos sales by over Euro 20 million. Etos expects 2001 annualized sales of Euro 450 million (1999 sales: Euro 400 million). The number of Etos stores rises to 425 and market share climbs to 15.5%.The transaction considerably strengthens the position of Etos in The Netherlands, providing a number of attractive locations in several populous Dutch cities, including the capital Amsterdam. The Boots stores continue under their own name until year-end, when at least 11 of the 17 will be remodeled to the Etos format. Etos also absorbs the 340 Boots staff.
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