Ahold Delhaize reports progress on store divestments, gives update on Belgium strategy
23 Marzo 2017 - 10:45AM
Zaandam, the
Netherlands, March 23, 2017 - Ahold Delhaize today announced
its Belgian subsidiaries have reached agreements to divest four
stores and one project in Belgium. The divestments, in addition to
the sales agreements announced on March 13, are made to comply with
the conditions that the Belgian Competition Authority (BCA)
attached to its approval of the merger of Ahold and Delhaize Group
in 2016.
Carrefour has agreed to buy one Albert
Heijn store and two Delhaize affiliated stores, as well as one
project. Independently and separately, an independent supermarket
entrepreneur has agreed to buy one store from Albert Heijn.
The agreements are subject to customary
closing conditions. Upon fulfillment of these conditions, the
stores are expected to be transferred within approximately three
months. The current labor and working conditions of the associates
will be respected in accordance with Belgian labor laws and
regulations.
The BCA approved the merger of Ahold
and Delhaize Group on March 15, 2016, conditional upon the
divestment of eight Albert Heijn stores, five Delhaize affiliated
stores and a limited number of projects in Belgium to address
competition concerns raised by the regulator.
A full list of the store
locations referred to in this press release is included as an
annex.
Ahold Delhaize continues to work in
close cooperation with the BCA and potential buyers to complete the
divestment process for the remaining stores included in the package
as agreed with the regulator.
Ahold Delhaize is uniquely positioned
to serve the Belgian market with two brands successfully serving
the Belgian customer, each providing distinctive benefits to their
customers.
Delhaize Le Lion has a strong history
and heritage with 150 years of existence and is recognized for the
quality of its products, its qualitative and large assortment, its
fresh and local products, and its attractive shopping experience.
Delhaize Le Lion is the strong leading and local brand, and has
over 700 stores.
Albert Heijn has successfully entered
the Flemish market building on its Dutch heritage and has notably
been appreciated for its attractive promotions and distinctive
assortment. In the meantime, the brand has grown to a network of 42
stores in Flanders.
In the next few years, our key priority
is to make our leading brand Delhaize the favorite supermarket of
the Belgians, winning the hearts and minds of customers and become
the best retailer in Belgium. Delhaize Le Lion is strengthening its
customer proposition, investing in its offer and customer
experience, while staying true to its heritage. We are convinced of
the outcome of this journey and there is opportunity for growth in
Belgium. Delhaize customers will increasingly benefit from the
strength of our group including its merchandise and e-commerce
capabilities, bringing the best of both Delhaize and Albert Heijn
to our customers in Belgium.
Once the ongoing strengthening of
Delhaize Le Lion is completed in the eyes of the customer, the
natural next phase is to integrate all Ahold Delhaize Belgium
supermarket activities into Delhaize Le Lion. In the meantime,
Albert Heijn will continue to open stores in Flanders.
The Ahold Delhaize Management Board
will assess the readiness for integration in the first half of
2019.
170323_PR Belgium_Final
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Ahold Delhaize via Globenewswire
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