Dutch retail giant Ahold has announced it has reached an agreement with Grupo Interbank and a group of investors led by Nexus Group on the sale of 100% of its shares in its Peruvian operation, Supermercados Santa Isabel.
The transaction is expected to close before year-end. The purchase price was not disclosed.
The divestment of Santa Isabel in Peru is part of Ahold’s strategic plan to restructure its portfolio in order to focus on high-performing businesses and to concentrate on its mature and most stable markets, Ahold said.
Ahold entered the Peruvian market in 1998. In terms of sales, Santa Isabel is the second-largest food retailer in Peru, currently operating 35 stores, including 8 hypermarkets, and employing around 5,000 staff.