ZAANDAM, Netherlands -- Ahold here said last week it has agreed to acquire two more retail chains in southern Spain -- Mercasol and Las Postas -- with additional acquisitions anticipated.
Last week's pending acquisitions, encompassing 10 stores with combined sales exceeding $37 million (at a rate of $1 equals 0.94 Eurodollars), would bring the number of Ahold-owned supermarkets in Spain to 186, with annualized sales approaching $424 million, the company said.
Mercasol operates six stores in the Marbella region of Spain, with sales of approximately $21.2 million. The stores, which average 9,500 square feet of selling space, are known for their broad assortment of food items, the quality of their fresh products and their wide range of international offerings, which have special appeal to tourists who visit the region, Ahold said.
Las Postas, which Ahold said is known for service, operates four stores along Spain's Costa del Sol, with average selling space of 8,000 square feet and sales of approximately $15.9 million.
Once the transactions are completed, Ahold would operate seven supermarket companies in Spain: 96 Cobreros stores in Sevilla; 35 Dumaya supermarkets and seven Castillo del Barrio units in Malaga; 21 Guerrero stores in Granada; and 17 Longinos Velasco supermarkets in Madrid; plus Mercasol and Las Postas.
According to Jan Andreae, a corporate executive board member of Ahold, "We are delighted to have the opportunity to transfer our know-how and economies of scale to customers in the Costa del Sol. We plan to pass on the benefits accruing from our increasing critical mass in Spain to all customers."