by Dan Vallada - FoodBizDaily.com Miami
November 23 2009 - Alfa-Beta, the second largest food retailer in Greece and subsidiary of the Belgian international food retailer Delhaize Group announced the purchase of Greek Koryfi chain stores.
The acquisition represents an effort to reinforce Alfa-Beta’s position in Thrace, the Northeastern region of Greece, where the company’s presence is still shy.
Alfa-Beta's network consists of 204 stores (under the banners Alfa-Beta, AB City Market, ENA cash & carry, AB Foodmarket and AB Shop n' Go) and it plans to change the acquired stores to Alfa-Beta banners before the end of 2010.
The purchase includes 11 Koryfi stores - which reached EUR30 million revenues in 2008 - a distribution center and the real estate ownership of two stores.
As per Alfa-Beta 2008 results, it reached EUR 1.3 billion revenues and employed 8,821 people.
"The acquisition of Koryfi supports Delhaize Group's objective of accelerating profitable revenue growth and reinforce its presence in markets through fill-in acquisitions with strong synergies. Alfa-Beta now reinforces its position in the Northeastern part of Greece where it had a limited presence. We are pleased to welcome the employees to the Alfa- Beta family and to continue to serve the Koryfi customers,” states Alfa- Beta CEO Konstantinos Macheras.
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DELHAIZE GROUP
Address: Square Marie Curie 40 Brussels, 1070 Belgium
Telephone: +32-2-4122211
Fax: +32-2-4122222
About DELHAIZE GROUP
Delhaize Group is a Belgian international food retailer with activities in seven countries on three continents. The principal operational activity of Delhaize Group is the operation of food supermarkets in North America, Europe and Southeast Asia. Delhaize Group’s sales network also includes other store formats, such as proximity stores and specialty stores. In addition to food retailing, Delhaize Group engages in food wholesaling to stores in its sales network and in retailing of non-food products, such as pet products. At December 31, 2008, Delhaize Group’s sales network consisted of 2,673 stores. At December 31, 2008, Delhaize Group operated companies in seven countries on three continents: the United States, Europe and Asia. These companies are grouped into four segments: the United States, Belgium, Greece and the Rest of the World. On February 14, 2008, Delhaize Group acquired P.L.Logistics Center-Dianomes-Apothikefsis - Logistics. On September 1, 2008, it acquired La Fourmi.