Delhaize Group's Mega Image subsidiary to acquire four supermarkets in Romania

Belgian food retailer Delhaize Group has entered into an agreement to acquire four stores operated under the banner Prodas Holding Supermarket in Bucharest, through its fully owned subsidiary Mega Image.

According to Delhaize Group, for 2008, it is estimated that the revenues of the four acquired stores amounted to more than E12m. The four stores, which have a size of 400 to 750 square meters, will be converted to Mega Image supermarkets.

The acquisition of the four Prodas Holding Supermarket stores is subject to the customary conditions, including the approval by the Romanian antitrust authorities. The transaction is expected to close in the third quarter of 2009.

Xavier Piesvaux, general manager of Mega Image, said: "This transaction fits perfectly into Mega Image's strategy of growing via well-located stores in urban areas. The four Prodas Holding Supermarket stores will strengthen our store network. We also expect sales opportunities and buying synergies from this acquisition."

Delhaize Group is a Belgian food retailer with operations in seven countries on three continents. Delhaize Group acquired a 51% stake in Mega Image in 2000. In 2004, Mega Image became fully-owned by Delhaize Group.