Belgian grocer Delhaize has announced the acquisition of US counterpart Victory Super Markets for US$175m.
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The acquisition was conclude via Delhaize’s New-England based unit Hannaford. The Belgian-based company does much of its business in the eastern US.
“This highly complementary acquisition reinforces the presence of Hannaford in Massachusetts and New Hampshire and will have a positive impact on Delhaize Group’s net earnings beginning in 2005,” Hannaford CEO Ron Hodge said in a statement.
Victory’s 19 supermarkets had an annual turnover of around $385m and their location and range of food fitted well with existing Hannaford stores, Delhaize added.
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