Belgian Delhaize wraps up acquisition of Serbian Delta Maxi.

By bne IntelliNews July 28, 2011
Belgian retailer Delhaize has completed the acquisition of Serbia's leading retail chain Delta Maxi after receiving clearance from all relevant merger control authorities, Delhaize said in a press release. "The addition of Delta Maxi combined with our existing businesses in Romania and Greece makes Delhaize Group into a leading player in the region. We are looking forward to growing our business in this promising part of Europe", Pierre-Olivier Beckers, president and CEO of Delhaize Group, said. Delhaize bought 100% of Delta Maxi for EUR 932.5mn, including net debt and other customary adjustments of EUR 318mn. Delta Maxi operates more than 450 stores in Serbia, Bulgaria, Bosnia and Herzegovina, Montenegro and Albania. In Serbia, Delta Maxi operates approximately 350 stores and is the largest food retailer. It also holds considerable market shares in Bulgaria, Bosnia and Herzegovina, Albania and Montenegro. The estimated annual revenues of Delta Maxi Group for 2011 amount to EUR 1.35-1.4bn and estimated 2011 EBITDA amounts to EUR 85-90mn. Delhaize Group has 2,800 stores and employs some 137,000 people in six countries.

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