Delhaize Group Closes the Acquisition of Greek Retailer Koryfi
Market Wire, November, 2009
BRUSSELS, Belgium, November 23, 2009 – Delhaize Group
(Euronext
Brussels: DELB – NYSE: DEG), the Belgian international food
retailer,
announced today that it has completed, through its
subsidiary
Alfa-Beta Vassilopoulos, the earlier announced acquisition of
11
stores and a distribution center operated under the banner Koryfi
for
an amount of EUR 7.0 million. This highly complementary
acquisition
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. Thanks
to
this perfect fill-in acquisition of 11 well-located stores and
a
distribution center, Alfa-Beta reinforces its position in
the
Northeastern part of Greece where it so far only had a
limited
presence. We are pleased to welcome the employees to the Alfa-
Beta
family and to continue to serve the Koryfi customers.”
In 2008, the revenues of the 11 acquired stores amounted to EUR
30
million. The transaction includes the real estate ownership of
two
stores and a distribution center. Alfa-Beta plans to convert
the
acquired stores to Alfa-Beta banners before the end of 2010.
The
results of the 11 Koryfi stores will be consolidated in
Delhaize
Group’s results from November 23, 2009.
Alfa-Beta is the second largest food retailer in Greece. At the
end
of the third quarter of 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 8 821 people.
Delhaize Group
Delhaize Group is a Belgian international food retailer present
in
six countries on three continents. At the end of the third quarter
of
2009, Delhaize Group’s sales network consisted of 2 697 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.
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