Ahold Completes Acquisition of Nearly All Konmar Stores from Laurus
Out of the 29 Konmar stores, 27 stores, of which 3 are franchise stores, are now included in the Ahold group.
27/11/06 Ahold announced it has successfully completed the acquisition of nearly all Konmar stores in the Netherlands, the purchase of which had been agreed with Laurus Nederland B.V.
Out of the 29 Konmar stores, 27 stores, of which 3 are franchise stores, are now included in the Ahold group. Of these 27 stores, 21 stores, including 2 franchise stores, will be operated by Albert Heijn B.V., while 6 stores, including 1 franchise store, will be transferred to and operated by Ahold’s consolidated subsidiary Schuitema N.V. The remaining 2 stores, including 1 franchise store, are expected to be transferred to Albert Heijn upon the fulfilment of certain contractual conditions, which is expected in the first half of 2007, on a store-by-store basis. Albert Heijn and Schuitema have paid a combined price of EUR 100,9 million for the stores. The inventory and certain receivables are included in the purchase price.
Conversion of the acquired stores into Albert Heijn and C1000 supermarkets has started. The first opening of a former Konmar store, rebranded and remodeled as an Albert Heijn store, is expected in late November 2006. Ahold announced the transaction on May 31, 2006. Closing of the transaction was subject to certain closing conditions.
