Dutch retailer Royal Ahold has completed the acquisition of the Konmar supermarket chain from struggling Dutch supermarket group Laurus, the companies said today (14 November).
Ahold said that 27 of the 29 stores purchased in the deal are now included in the Ahold group. The remaining two stores will be transferred to Ahold after the fulfilment of contractual conditions, expected in the first half of 2007.
Of these 27 stores acquired, 21 outlets, including 2 franchise stores, will be operated by Albert Heijn, while 6 stores, including 1 franchise store, will be transferred to and operated by Ahold’s consolidated subsidiary Schuitema.
Conversion into Albert Heijn and C1000 supermarkets has started, Ahold said. The first opening of a former Konmar store, rebranded and remodeled as an Albert Heijn store, is expected late this month.
Ahold and Schuitema paid a combined price of EUR100.9m (US$130m) for the stores.