July 7, 2009 - Delhaize Group, the Belgian international food retailer, announced today that it has completed through its fully-owned subsidiary Mega Image the earlier announced acquisition of four stores operated under the banner Prodas Supermarket in Bucharest, the capital of Romania.
"Thanks to this perfect fill-in acquisition of four well-located stores in urban areas, Mega Image strengthens once again its position in the city of Bucharest. This acquisition will also allow us to realize sales opportunities and buying synergies," commented Xavier Piesvaux, General Manager of Mega Image. "We look forward to serving our new customers and welcome its employees in the Mega Image family."
For 2008, the revenues of the four acquired stores amounted to EUR 12.3 million. The four stores, which have a size of 400 to 750 square meters, will be converted to Mega Image supermarkets within the next 3 months. The results of the four Prodas stores will be consolidated in Delhaize Group's results from July 13, 2009.
Founded in 1995, Mega Image is one of the largest supermarket chains in Romania, with 43 stores (including the four recently acquired stores) in Bucharest, Constanta and Ploiesti. The number of employees at the end of 2008 was 2 000 people. Delhaize Group acquired a 51% stake in Mega Image in 2000. In 2004, Mega Image became fully-owned by Delhaize Group.