Belgian based food retailer Delhaize announced today (Friday) that Delvita SK, its Slovak subsidiary, has agreed to sell its 11 Slovak stores to the German retailer REWE Group for 7.7 million euros. (US$10.06 million).
“The sale of these non-strategic Slovak stores allows us to re-focus our resources on Delvita’s core markets in the Czech Republic,” said Jiri Charvat, General Manager of Delvita.
Delvita expanded into Slovakia in 1998. In 2004, the 11 Slovak stores of Delvita produced only a small proportion of total Delvita sales. At the end of 2004, Delvita employed approximately 570 people in Slovakia.
The sale is expected to be neutral in Delhaize Group’s 2005 results. It is subject to approval by the Slovak antitrust authorities.
Delhaize Group’s sales network consisted of 2,565 stores, employing some 138,000 people in eight countries in eight countries on three continents.
