Dutch retailer Schuitema has agreed to sell five stores in order to get regulatory clearance for its bid to buy 79 Super de Boer outlets.
The Netherlands Competition Authority (NMa) has approved Schuitema’s plan to acquire the Super de Boer stores from local rival Jumbo.
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Super de Boer was sold to Jumbo last autumn in a deal worth EUR552.4m (US$753.7m). Schuitema, which had been linked to a rival bid for Super de Boer, agreed instead to buy a clutch of stores from Jumbo.
However, Dutch regulators feared the deal between Schuitema and Jumbo could hit competition in certain regions in the country, leading the watchdog to ask for the store disposals.
“The NMa feared that, had Schuitema’s original plans been implemented, local competition problems would occur in five smaller Dutch towns,” the regulator said.
“Although the acquisition of the Super de Boer stores would only have a marginal effect on Schuitema’s national market share, it would however lead to high market shares in several smaller regional markets, thereby potentially harming competition on a local level considerably. Schuitema therefore offered to sell a Super de Boer store or C1000 store in these five towns to a third party.”
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By GlobalData
