New York City Delhaize Group said Friday it has agreed to acquire a Greek counterpart Plus Hellas for $102.6 million.
Delhaize said the acquisition of Plus Hellas’ 33 stores and a distribution center will boost the position of its Greek business, Alfa-Beta Vassilopoulos. That is especially true for northern Greece, where it has “a limited presence,” Delhaize said in a statement.
Plus Hellas belongs to German supermarket operator The Tengelmann Group. Plus entered the Greek market in 2005 and started its retailing operations in 2006.