Brussels, Belgium -- Belgian supermarket retailer Delhaize Group said Wednesday that it has completed the previously announced acquisition of Serbian retailer Delta Maxi.
Combined with its existing operations in Greece and Romania, Delhaize is now, with this transaction, considered a leading retail force in Southeastern Europe.
"This transaction fits perfectly in our New Game Plan, our strategic plan focused on accelerating profitable revenue growth,” said Pierre-Olivier Beckers, president and CEO of Delhaize Group. “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 approximately $1.35 billion. In Serbia, Delta Maxi operates 350 stores and is the largest food retailer, and its store count in a five-country region is expected to total about 500 by year-end 2011.