Dutch retailer Ahold has announced that it has successfully completed the acquisition of 56 stores in the Czech Republic from Julius Meinl.
Ahold and Julius Meinl, a Czech subsidiary of the Austrian holding company Julius Meinl International, announced the transaction on 1 August 2005. Closing of the transaction was subject to certain closing conditions, including antitrust approval.
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This acquisition will increase Ahold’s storecount in the Czech Republic to about 300 and in Central Europe to approximately 520.
“We are delighted to be able to announce this transaction,” said Anders Moberg, Ahold president & CEO, in August. “It represents another milestone in our recent history. We are nearing the successful completion of our divestment program and are now growing the business in key markets through selective acquisitions such as the transaction announced today.”
Ahold plans to rebrand the Julius Meinl stores as Albert, the banner under which Ahold operates its supermarkets in the Czech Republic, Slovakia and Poland. The number of Albert supermarkets in the Czech Republic will increase to approximately 250.
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By GlobalData
