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Delhaize Would be Interested in Carrefour Stores

Source: Reuters
26/03/2009

Brussels, March 26 - Belgian supermarket group Delhaize would be interested in taking over some Carrefour stores if the French group decided to exit Belgium, Delhaize's CEO told a Belgian magazine.

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"If Carrefour decides not to stay in Belgium any longer then we are certainly interested in taking over some of the chains in so far as they fit in our network," Delhaize Chief Executive Pierre-Olivier Beckers told Trends magazine.

"The Belgian market is a key market for Delhaize. When we see the possibility to strengthen in this way, we will gladly do it, if the competition authorities allow that of course," Beckers told the weekly magazine that was published on Thursday.

Carrefour, the world's second largest retailer, had a torrid time in 2008, hit by a downturn in its main western markets, its exposure to non-food items, which have seen a bigger drop in demand than groceries, and by competition from discounters.

New Chief Executive Lars Olofsson has outlined plans to cut prices and costs and look at improving performance in Belgium and Italy with the "utmost urgency".

Delhaize and Belgian discounter Colruyt have both reported market share gains in Belgium, leading most analysts to conclude that Carrefour has lost ground there. Many speculate Carrefour may choose to exit the market.

Delhaize, recognised as one of the higher quality stores, has benefited from a focus on prices and an expansion of its own-brand range.

Beckers told Trends magazine it remained to be seen if Carrefour would become more dynamic in Belgium.

"We are well armed against any move from Carrefour, which has a lot of work to do to improve its image in Belgium," he said.



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