BELGIUM/NETHERLANDS: Laurus agrees deal to sell 20 Belgian stores

Dutch supermarket operator Laurus has agreed to sell 20 of its Battard and Central Cash stores in Belgium to the Belgian subsidiary of French retail giant Carrefour. Under the agreement the 20 stores will be converted to Carrefour Belgium’s Super GB Partner or Contact GB formats from September and will be operated by Laurus Belgium until GB franchisees are nominated by Carrefour to take them over. The transfer should be completed by April 2004, reported Dow Jones News.

August 13, 2003

Dutch supermarket operator Laurus has agreed to sell 20 of its Battard and Central Cash stores in Belgium to the Belgian subsidiary of French retail giant Carrefour.

Under the agreement the 20 stores will be converted to Carrefour Belgium’s Super GB Partner or Contact GB formats from September and will be operated by Laurus Belgium until GB franchisees are nominated by Carrefour to take them over. The transfer should be completed by April 2004, reported Dow Jones News.

Prior to the agreement, Laurus operated 28 Battard and Central Cash stores in Belgium. This agreement, together with the recent sale of some operations to Colruyt, means that Laurus has almost withdrawn fully from its food retailing activities in Belgium.