Delhaize, the Belgium-based retailer, revealed today (10 July) that it is looking for further acquisitions in Greece and Romania and hinted that it would be interested in expanding into Bulgaria.
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The company told just-food that recent acquisitions in Greece and Romania had given the business a “good strategic platform” on which to build its presence in the countries.
In April, Delhaize added the Plus discount stores in Greece to its local Alfa-Beta business, which is the second-largest food retailer in the country.
In March, Delhaize expanded its operations in Romania with the acquisition of local supermarket chain La Fourmi.
“There are plenty of acquisition opportunities in Greece still,” a Delhaize spokesman said. “We would consider those to be fill-in acquisitions for our business there.”
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By GlobalDataThe spokesman said Delhaize is eyeing the growing retail sectors of south-eastern Europe and hinted that a move into Bulgaria could be on the cards.
He refused, however, to be drawn on when any potential acquisition could be made in any of the three markets.
This week, Delhaize CEO Pierre-Olivier Beckers told a Dutch newspaper that he saw buying opportunities in the region.
“We are in no rush and we will certainly not pay any price. But there are now more chances to acquire medium-sized players. Prices are more realistic than in 2002,” Beckers told the Hett Financieele Dagblad.
“There are still some companies with weak balances and private equity is standing aside for the moment.”
