Ahold agrees strategic acquisition in the Czech Republic
Zaandam, the Netherlands - Ahold is pleased to announce that it has entered into
an agreement to acquire SPAR's business in the Czech Republic for an enterprise
value of CZK 5,245 million. The acquisition will be funded from existing cash
resources and is subject to merger clearance.
Ahold acquires 50 stores, of which 36 are compact hypers and 14 are
supermarkets. In 2013 net sales amounted to CZK 12 billion.
This acquisition is in line with Ahold's strategy to expand its geographic reach
in both current and adjacent markets, and focus on leading market positions.
Ahold has had a presence in the Czech Republic since 1991 and has developed the
business under the Albert brand name to become one of the best known food
retailers in the country.
Commenting on the acquisition, Dick Boer, CEO of Ahold, said: "Our Czech
Republic Albert's business has continued to successfully improve the performance
of its business during recent years. 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. It will provide our large
base of local suppliers access to an even bigger market, and I look forward to
welcoming the associates to our company."
Rudolf Staudinger, board director responsible for foreign operations at the
Austrian SPAR AG, commented: "Our company strategy entails that we manage to
establish a satisfying market position in the countries we do business in. Our
conclusion was that this could not be realized in the Czech Republic and we will
concentrate on other markets such as Italy, Hungary, Slovenia and Croatia. As we
therefore withdraw from the Czech Republic, we are pleased that we have found a
new home for our business and for our employees."
Ahold currently operates 284 Albert supermarkets and compact hypers in the Czech
Republic. Following the acquisition of SPAR, the company will have over 330
stores, becoming the number one food retailing brand in the country.
For more information, please visit Ahold.com
Ahold acquisition Czech Republic:
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Source: Ahold via GlobeNewswire