Delhaize Group's Alfa-Beta Acquires Greek Retailer Koryfi
* Reuters is not responsible for the content in this press release.
BRUSSELS, BELGIUM, Oct 08 (MARKET WIRE) --
BRUSSELS, Belgium, October 8, 2009 - Delhaize Group (Euronext Brussels:
DELB - NYSE: DEG), the Belgian international food retailer, announced
today that it has entered into a share purchase agreement to acquire the
Greek retailer Koryfi through its subsidiary Alfa- Beta Vassilopoulos for
an amount of EUR 7.0 million (plus EUR 1.8 million financial debt). This
highly complementary acquisition of 11 stores will reinforce the position
of Alfa-Beta in Thrace (Northeastern Greece) where it currently has a
limited presence.
Konstantinos Macheras, Chief Executive Officer of Alfa- Beta, commented:
"The acquisition of Koryfi supports Delhaize Group's objective of
accelerating profitable revenue growth and fits in the company's strategy
to reinforce its presence in existing or adjacent markets through fill-in
acquisitions with strong synergies. The Koryfi stores will give Alfa-Beta
an important presence in Thrace, an area in Northern Greece where we are
currently almost absent. We look forward to welcoming the employees of
Koryfi and are committed to continue the excellent service to Koryfi
customers."
Koryfi is a family-owned supermarket chain that was founded in 1998. It
is currently operating 11 stores with an average selling area of
approximately 800 m^2, including 8 located in Alexandroupolis, and a
small distribution center. The transaction includes the real estate
ownership of 2 stores and the distribution center. In 2008, Koryfi
realized EUR 30 million in sales and employed approximately 325 people.
The objective is to convert all Koryfi stores before the end of 2010 to
Alfa-Beta banners.
The acquisition of Koryfi is subject to customary conditions, including
the approval by the Greek antitrust authorities. The transaction is
expected to close in the fourth quarter of 2009.
Alfa-Beta is the second largest food retailer in Greece. At the end of
August 2009, Alfa-Beta's network consisted of 204 stores under the
banners Alfa-Beta, AB City Market, ENA cash & carry, AB Foodmarket and AB
Shop n' Go. In 2008, Alfa-Beta realized EUR 1.3 billion revenues and it
employed 8 821people.
>> Delhaize Group
Delhaize Group is a Belgian international food retailer present in six
countries on three continents. At the end of the second quarter of 2009,
Delhaize Group's sales network consisted of 2 684 stores. In 2008,
Delhaize Group posted EUR 19 billion (USD 28 billion) in revenues and EUR
467 million (USD 687 million) in net profit (Group share). At the end of
2008, Delhaize Group employed approximately 141 000 people. Delhaize
Group's stock 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 website http://www.delhaizegroup.com. Questions can
be sent to investor@delhaizegroup.com.
cautionary note regarding forward looking statements
Statements that are included or incorporated by reference in this press
release and other written and oral statements made from time to 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 future,
including, without limitation, statements about strategic options, future
strategies and the anticipated benefits of these strategies, are
"forward-looking statements" within the meaning of the U.S. federal
securities laws that are subject to risks and uncertainties. These
forward-looking statements generally can be identified as statements that
include phrases such as "guidance", "outlook", "projected", "believe",
"target", "predict", "estimate", "forecast", "strategy", "may", "goal",
"expect", "anticipate", "intend", "plan", "foresee", "likely", "will",
"should" or other 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 most recent Annual Report on Form 20- F and other 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.
This announcement was originally
distributed by Hugin. The issuer is solely responsible for the content of
this announcement.
Copyright Copyright Hugin AS 2009. All rights
reserved.
Contacts
Geert Verellen:
+ 32 2 412 83 62
Barbera Hoppenbrouwers (media)
+ 32 2 412 86 69
Amy Shue (U.S. investors)
+1 704 633 8250 (ext.2529)
Copyright 2009, Market Wire, All rights reserved.
-0-
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.



Follow Reuters