Belgian retail group Louis Delhaize has won EU approval for its takeover of the Hungarian supermarket chain Magyar Hipermarket.
“The horizontal overlaps between the activities of Louis Delhaize and Magyar Hipermarket are limited. The combined firm would continue to face several strong and effective competitors,” the European Commission said yesterday (9 July).
“Moreover, new openings of outlets by competitors are planned and the Hungarian retail market is expected to further develop. Accordingly, the Commission has concluded that the proposed transaction would not give rise to competition concerns.”
Louis Delhaize is a separate entity to Belgium-based supermarket group Delhaize, a retail group with operations in Belgium and the US.
The origins of both firms go back to the nineteenth century. Belgian wine merchant Jacques Delhaize had three sons, two of whom formed the foundations of the Delhaize retail group. Louis Delhaize went his own way to form his namesake company.