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October 7, 2009

NETHERLANDS: Jumbo, Schuitema in JV

The jostling for position in the Dutch food retail sector shows no sign of abating with the announcement that Jumbo and Schuitema are to co-operate on purchasing - and on the imminent takeover of Super de Boer.

The jostling for position in the Dutch food retail sector shows no sign of abating with the announcement that Jumbo and Schuitema are to co-operate on purchasing – and on the imminent takeover of Super de Boer.

Schuitema, which runs the C1000 chain in the Netherlands, said on Monday (5 October) that the purchasing venture would create a “powerful player” in the Dutch market.

The news came as speculation grows over the future of a third Dutch food retailer, Super de Boer.

Jumbo is currently in exclusive talks with Super de Boer after tabling a EUR480m (US$705.7m) takeover late last month.

Earlier this week, Super de Boer announced it had received a second, rival bid from Sperwer Group, which runs the Plus chain in the Netherlands.

Schuitema had been linked to a joint offer with Sperwer but has decided not to bid for Super de Boer.

However, Schuitema said it would acquire 80 Super de Boer stores if Jumbo’s bid for the business was successful.

Schuitema described its agreement with Jumbo as one of “three stages”.

“The first phase consists of a new, stronger commercial policy, promotion of efficiency and a stronger proposition for the customer,” Tom Heidman, chairman of Schuitema’s C1000 chain, said.

Schuitema said “phases two and three” would focus on “increasing the number of stores and acquiring stronger buying power”.

Heidman added: “We look forward to getting acquainted with the Super de Boer-entrepreneurs and their employees to discuss cooperation.”

Officials at Jumbo could not be reached for immediate comment.

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