Delhaize Buys Greek Chain from Tengelmann

BRUSSELS — Delhaize Group here said Friday that it has agreed to acquire Greek retailer Plus Hellas from the Tengelmann Group of Germany for about $102.7 million. The acquisition, which Delhaize is making through its existing chain in Greece, Alfa-Beta Vassilopoulos, includes 33 stores and a distribution center. The deal is expected to close in the second quarter. Plus Hellas has annual sales of about $100 million, according to Tengelmann’s website. Tengelmann owns a large stake in the A&P chain in the U.S. and has extensive additional holdings in Europe. In a prepared statement, Delhaize said the acquired stores would be converted to Alfa-Beta banners and would give the chain a stronger presence in northern Greece. Alfa-Beta operated about 154 stores under various banners as of September 2007.

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