The Dutch competition watchdog has cleared supermarket operator Jumbo’s move to buy local rival Super de Boer, it was announced today (7 December).
Jumbo struck a deal to buy Super de Boer in October in a deal worth EUR552.4m (US$818.8m). Super de Boer shareholders will meet to ratify the acquisition in Amsterdam tomorrow (8 December) and the transaction is expected to go through on Friday week.
Super de Boer chairman Jan Brouwer said today that he would resign from the role once the deal is complete.
Brouwer insisted he was “pleased” Super de Boer was “combining our strengths with Jumbo” and would remain available until the end of March as the two businesses come together.
“After having managed two listed companies, Schuitema and Super de Boer, for the past 14 years, I will now take the time to consider my future plans,” Brouwer said.