Brussels, Belgium, September 1, 2008 - Delhaize Group (Euronext Brussels: DELB - NYSE: DEG), the Belgian international food retailer, announced today that it has completed through its fully-owned subsidiary Mega Image the earlier announced acquisition of La Fourmi, which operates 14 stores in Bucharest, the capital of Romania.
“Thanks to this perfect fill-in acquisition of 14 well-located stores in urban areas, Mega Image strengthens its number one position in the city of Bucharest. By the end of the year, we expect Mega Image’s network to reach 40 stores. This acquisition will also allow us to realize important buying synergies,” commented Xavier Piesvaux, General Manager of Mega Image. “We look forward to serving our new customers of La Fourmi and welcome its employees in the Mega Image family.”
Mega Image has acquired La Fourmi for an amount of EUR 18.6 million, subject to contractual adjustments. This acquisition includes real estate ownership of four stores. For 2007, the revenues of the 14 acquired stores amounted to approximately EUR 35 million. Delhaize Group will convert the La Fourmi stores, which have a selling area of 350 to 500 square meters, to Mega Image Supermarkets within the next six months. The results of La Fourmi will be consolidated in Delhaize Group’s results from September 1, 2008.
Founded in 1995, Mega Image is one of the largest supermarket chains in Romania, with 38 supermarkets (including the 14 newly acquired stores) in Bucharest, Constanta and Ploiesti. The number of employees at the end of 2007 was 1,200 people. Delhaize Group acquired Mega Image in 2000.