ZAANDAM, the Netherlands — Ahold has entered into an agreement to acquire Spar's business in the Czech Republic. The acquisition includes 50 stores of which 36 are compact hypers and 14 are supermarkets.
The acquisition, which has and enterprise value of CZK 5,245 million, will be funded from existing cash resources and is subject to merger clearance.
This acquisition is in line with Ahold's strategy to expand its geographic reach in both current and adjacent markets, and focus on leading market positions. Ahold has had a presence in the Czech Republic since 1991 and has developed the business under the Albert brand name.
"Our Czech Republic Albert's business has continued to successfully improve the performance of its business during recent years. The acquisition of Spar's business in the Czech Republic is an important strategic step and marks an exciting new phase for Ahold in the Czech Republic. It allows us to combine two companies that have a natural fit and that share a continuous focus on quality and value, and becoming a better place to shop for our customers. It will provide our large base of local suppliers access to an even bigger market, and I look forward to welcoming the associates to our company,” stated Dick Boer, CEO of Ahold.
Ahold currently operates 284 Albert supermarkets and compact hypers in the Czech Republic. Following the acquisition of Spar, the company will have more than 330 stores.