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Ahold to buy 50 Czech stores
Ahold on Tuesday said it has agreed to acquire the Czech Republic operations of SPAR, which includes 36 hypermarkets and 14 supermarkets, for about $286 million.
March 11, 2014
1 Min Read
Ahold on Tuesday said it has agreed to acquire the Czech Republic operations of SPAR, which includes 36 hypermarkets and 14 supermarkets, for about $286 million.
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The acquisition, which Ahold said makes it the largest retailer in the country, is subject to merger clearance. Zaandam, Netherlands-based Ahold currently operates 284 Albert supermarkets and compact hypermarkets in the Czech Republic. Following the acquisition of SPAR, the company will have more than 330 stores.
“Our Czech Republic Albert’s business has continued to successfully improve the performance of its business during recent years,” said Ahold CEO Dick Boer in a statement. “The acquisition of SPAR’s business in the Czech Republic is an important strategic step and marks an exciting new phase for Ahold in the Czech Republic. It allows us to combine two companies that have a natural fit and that share a continuous focus on quality and value, and becoming a better place to shop for our customers.”
In 2013 the SPAR stores had sales of about $608 million. SPAR AG is based in Widnau, Austria.
