Ahold today (27 February) announced the acquisition online retailer bol.com from Cyrte Investments and NPM Capital for EUR350m (US$470m).
The move, Ahold said, would strengthen its online presence in non-food categories. With total net sales of EUR355m in 2011, bol.com serves 3.4m active customers in the Netherlands. It offers a broad range of products in various non-food categories including books, entertainment, electronics and toys.
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Ahold said that the acquisition was an important step in its strategy to expand sales by fostering customer loyalty, broadening its offering and expanding its geographic reach.
“bol.com provides us with the platform, scale and expertise we need to accelerate our growth in online retailing,” Ahold CEO Dick Boer commented. “Its capabilities and operations in non-food categories will broaden our assortment and increase our online presence, adding to the existing online food offering through albert.nl. Together, we will be able to offer customers more choice, greater convenience and better value.”
The acquisition is expected to be immediately accreditive to EPS.
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