Delhaize Officially Completes Delta Maxi Acquisition

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Delhaize officially completes Delta Maxi acquisition Beligum’s Delhaize has completed the acquisition of Delta Maxi market chain, paying EUR 932.5 million for that Serbian retailer. According to a statement issued by Delhaize, the closing of this transaction has enabled the beginning of integration of the largest market chain in Serbia into Delhaize Group. Representatives of Delhaize and Delta Holding, part of which is Delta Maxi, signed a sales contract on March 3rd, and the Serbian Commission for Protection of Competition gave its permission for that takeover on July 13th. Pierre-Olivier Beckers, president and CEO of Delhaize Group, said: “This transaction fits perfectly in our New Game Plan, our strategic plan focused on accelerating profitable revenue growth. 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.” Delhaize acquired Delta Maxi for EUR 932.5 million, including the net debt and other customary adjustments amounting to total of EUR 318 million. Delta Maxi has 15,000 employees and operates approximately 450 stores in Serbia, Bulgaria, Bosnia and Herzegovina, Montenegro, and Albania. In Serbia, it operates 350 stores and is the largest food retailer in the market. By acquiring direct control of the company Delta Maxi, Delhaize has also gained indirect control over companies C market, Pekabeta, Primer C, TP Srbija, Zvezdara, Bel investment property, and TP Stadel, people at the Commission for Protection of Competition announced earlier. The results of Delta Maxi will be consolidated in Delhaize Group’s results from August 1, 2011, and will be reported as part of the Southeastern Europe and Asia operating segment. Delhaize Group is an international food retailer present in eleven countries on three continents. At the end of the first quarter of 2011, Delhaize Group’s sales network consisted of 2,816 stores. In 2010, Delhaize Group posted EUR 20.8 billion in revenues and EUR 574 million in net profit. (Vojvodina Investment Promotion – VIP) .

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