BRUSSELS — Delhaize Group here said it has reached an agreement to sell 25 Maxi, Mini Maxi, and Tempo stores in Montenegro to Expo Commerce. Fincancial terms were not disclosed.


CONNECT WITH SN ON TWITTER

Follow @SN_News for updates throughout the day.


Expo is a distributor of major branded fast-moving consumer goods. Delhaize and Expo will enter into a franchise agreement maintaining the Maxi, Mini Maxi and Tempo names. In 2012, these stores generated revenues of around $62.5 million (U.S.).

Delhaize said the transaction is expected to close in the fourth quarter of 2013 and is subject to regulatory approval and customary closing conditions.

Suggested Categories More from Supermarketnews