AHOLD EXPECTS SALES IN SPAIN TO DOUBLE IN THREE YEARS

ZAANDAM, The Netherlands -- Ahold here said it expects its sales in Spain will double within three years to approximately $3.4 billion annually.

, which Ahold said it expects to complete by year's end, would give the company 530 stores in Spain with annual sales of roughly $1.7 billion.

"Ahold will be one of the few prominent national food distributors in Spain," said Cees van der Hoeven, Ahold president and chief executive officer, speaking to retailers at a Food Congress in Valencia, Spain.

"In just a short period of time, we have build up an excellent position and offer our customers quality stores and outstanding service," he added. "We can quickly react to any new developments in the marketplace and new economies of scale help us to further strengthen our position."