Delhaize Group’s Alfa-Beta Closes Plus Hellas Acquisition
SOURCE:
Delhaize Group
2008-04-01 09:10:00
Delhaize Group’s Alfa-Beta Closes Plus Hellas Acquisition
BRUSSELS, BELGIUM–( EMWNews – April 1, 2008) – Delhaize Group (Euronext Brussels:
DELB) (
today that it has completed the earlier announced acquisition of the
Greek retailer Plus Hellas through its subsidiary Alfa-Beta
Vassilopoulos. The 34 Plus Hellas stores and a new distribution
center will reinforce the position of Alfa-Beta in Greece,
particularly in Northern Greece where it had a limited presence.
“We look forward to serving our new customers of Plus Hellas and
welcome its employees in the Alfa-Beta family,” commented Kostas
Macheras, Chief Executive Officer of Alfa-Beta. The Plus Hellas
network consists of 34 new stores (average selling area of 795 m2)
and a modern distribution center (36,000 m2), including real estate
ownership of 11 stores and the distribution center.
Alfa-Beta has acquired Plus Hellas for an amount of EUR 69.5 million,
subject to contractual adjustments. The results of Plus Hellas will
be consolidated in Delhaize Group’s results from April 1, 2008.
Delhaize Group will convert the Plus Hellas stores to Alfa-Beta
banners.
Alfa-Beta is the second largest food retailer in Greece. At the end
of December 2007, Alfa-Beta’s network consisted of 159 stores under
the banners Alfa-Beta, AB City Market, ENA cash & carry, AB
Foodmarket and AB Shop n’ Go. In 2007, Alfa-Beta realized EUR 1.2
billion revenues, EUR 37.0 million net profit and it employed 7,545
people.
Delhaize Group
Delhaize Group is a Belgian food retailer present in seven countries
on three continents. At the end of 2007, Delhaize Group’s sales
network consisted of 2,545 stores. In 2007, Delhaize Group posted EUR
19.0 billion (USD 26.0 billion) in revenues and EUR 410.1 million
(USD 562.1 million) in net profit (Group share). At the end of 2007,
Delhaize Group employed approximately 138,000 people. Delhaize Group
is listed on Euronext Brussels (DELB) and the New York Stock Exchange
(DEG).
This press release is available in English, French and Dutch. You can
also find it on the web site http://www.delhaizegroup.com. Questions
can be sent to [email protected].
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Statements that are included or incorporated by reference in this
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time by Delhaize Group and its representatives, other than statements
of historical fact, which address activities, events and developments
that Delhaize Group expects or anticipates will or may occur in the
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similar words or phrases. Although such statements are based on
current information, actual outcomes and results may differ
materially from those projected depending upon a variety of factors,
including, but not limited to, changes in the general economy or the
markets of Delhaize Group, in consumer spending, in inflation or
currency exchange rates or in legislation or regulation; competitive
factors; adverse determination with respect to claims; inability to
timely develop, remodel, integrate or convert stores; and supply or
quality control problems with vendors. Additional risks and
uncertainties that could cause actual results to differ materially
from those stated or implied by such forward-looking statements are
described in Delhaize Group’s Annual Report on Form 20-F for the year
ended December 31, 2006 and other periodic filings made by Delhaize
Group with the U.S. Securities and Exchange Commission, which risk
factors are incorporated herein by reference. Delhaize Group
disclaims any obligation to update developments of these risk factors
or to announce publicly any revision to any of the forward-looking
statements contained in this release, or to make corrections to
reflect future events or developments.
Copyright © Hugin AS 2008. All rights reserved.
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