Ahold today has reached an agreement with Jumbo regarding the transfer of 78 C1000 and 4 Jumbo stores. The majority of the stores are owned by entrepreneurs; four are company-owned stores.
This step fits within Ahold’s strategy for sustainable, profitable growth. Expanding our geographic reach through acquiring stores in and adjacent to existing markets is an important part of the company’s strategy, in addition to increasing customer loyalty and broadening our offering.
Out of the 82 stores, 57 are located in areas where Albert Heijn does not currently operate. In the other locations, customers will be able to buy their daily groceries from an Albert Heijn store that will now be closer to them.
The four company-owned stores will be converted to the Albert Heijn banner as soon as possible. The other stores will be converted to the Albert Heijn banner over a period of time, in close cooperation with the entrepreneurs.
Ahold will pay Jumbo EUR290 million in cash for this transaction. Ahold will take over the real estate position of 78 of the 82 branch locations. In 2011, the 82 stores achieved consumer sales of approximately EUR800 million. The transaction with Jumbo is subject to customary conditions, including approval by competition authorities.