Belgian Delhaize Acquire Owner of Piccadilly Retail Chain

Belgian company Delhaize has acquired 100% of the shares of Serbian Delta Maxi Group, owner of the Piccadilly retail store chain operating in Bulgaria.

Delta Maxi (Delta Holding) runs some 450 stores in 5 countries in South-Eastern Euorpe. With the move, Delhaize adds to its already-existing Greek and Romanian branches.

"We are extremelly happhy with this acquisition, which fully supports our growth and is a priority in our strategic plans. Delhaize is already present in the region via the Alfa Beta stores in Greece and Mega Image in Romania," commented President and CEO Pierre-Olivier Beckers.

Delhaize also states it is holds deep respects for Delta Maxi's achievement in developing its chains, and is looking forward to learning and taking advantage of Delta Maxi's potential.

Delta Maxi Group's 450 stores include neighborhood shops (Mini Maxi, Piccadilly Express and Euromax), department stores (Maxi, Piccadilly and Euromax), discounters (Tempo Express) and hypermarkets (Tempo). Its estimated revenue for 2011 is expected to be around EUR 1.35-1.4 B. Some 15,000 people work for Delta Maxi.

Delhaize Group has acquired 100% of Maxi for EUR 932.5 M and has assumed a net debt of around EUR 300 M.

Just last week it was announced that Delhaize is interested in buying 50% of Delta.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!