Delhaize Group Closes La Fourmi Acquisition in Romania
The Belgian international food retailer, announced today that it has completed through its fully-owned subsidiary Mega Image the earlier announced acquisition of La Fourmi, which operates 14 stores in Bucharest, the capital of Romania.
Mega Image has acquired La Fourmi for
an amount of EUR 18.6 million, subject to contractual adjustments.
This acquisition includes real estate ownership of four stores. For
2007, the revenues of the 14 acquired stores amounted to
approximately EUR 35 million. Delhaize Group will convert the La
Fourmi stores, which have a selling area of 350 to 500 square meters,
to Mega Image Supermarkets within the next six months. By the end of
the year, the company expect Mega Image's network to reach 40
stores.The results of La Fourmi will be consolidated in Delhaize
Group's results from September 1, 2008.
Founded in 1995, Mega Image is one of
the largest supermarket chains in Romania, with 38 supermarkets
(including the 14 newly acquired stores) in Bucharest, Constanta and
Ploiesti. The number of employees at the end of 2007 was 1,200
people. Delhaize Group acquired Mega Image in 2000.
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