Delhaize Gets Approval For La Fourmi Acquisition

The Romanian competition regulator has approved the sale of the La Fourmi chain to Delhaize. The regulator said it does not expect the deal to lead to consolidation or to establishment of a dominant position on the relevant markets and does not harm the competition environment in Romania.

In March, Delhaize said it had entered into an agreement to acquire La Fourmi for E18.6m through its Mega Image subsidiary. It said it expected to close the transaction in the second quarter of 2008. La Fourmi operates 14 stores in Bucharest, each covering 350 to 500 sq.m, and generated revenue of around E30m in 2007.

The stores will be rebranded as Mega Image stores and will be served by Mega Image's existing distribution centre. They will add to Delhaize's existing network of 22 Mega Image stores in Romania.

kamcity.com