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April 2, 2008

GREECE: Delhaize secures Plus buy

Delhaize, the Belgium-based grocer, has sealed its acquisition of the Plus discount business in Greece from German conglomerate Tengelmann.

Delhaize, the Belgium-based grocer, has sealed its acquisition of the Plus discount business in Greece from German conglomerate Tengelmann.

The deal, struck through local Delhaize arm Alfa-Beta, was signed for EUR69.5m (US$108.7m), the company said.

Alfa-Beta is the second-largest food retailer in Greece and the acquisition will boost its presence in the north of the country and take its total store count to over 190 outlets.

For Tengelmann, the sale marks the latest of its disposals of scores of Plus stores around Europe.

Last month, Tengelmann, which owns the A&P retail business in the US, agreed to sell its Plus stores in Hungary to Spar Hungary.

Just before Christmas, Tengelmann agreed to sell its Plus chain in Portugal to the country’s largest grocer, Jerónimo Martins.

In November, Tengelmann ceded control of its German Plus outlets to local rival Edeka.

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