BRUSSELS — Delhaize Group here said Wednesday it has completed the $1.3 billion (U.S.) acquisition of the Serbian retailer Delta Maxi. The deal — which was granted approval by merger control authorities — helps Delhaize become a leading retailer in Eastern Europe, with 450 stores in Serbia, Bulgaria, Bosnia and Herzegovina, Montenegro and Albania joining existing operations in Greece and Romania.
"This transaction fits perfectly in our new game plan, our strategic plan focused on accelerating profitable revenue growth," Pierre-Olivier Beckers, Delahaze chief executive officer, said in a statement. "The addition of Delta Maxi combined with our existing businesses in Romania and Greece makes Delhaize Group into a leading player in the region. We are looking forward to growing our business in this promising part of Europe."
Delta Maxi is Serbia's largest retailer with 350 stores. Delhaize said it would develop strategic plans for pricing, assortment and branding while seeking synergy goals.