Country’s largest
Ahold intends to buy the 50 Czech Spar stores for 5.25 billion Czech krona (191 million euro) and has received preliminary permission to do so as final approval will only be granted in the second half of 2014.
Ahold currently operates in the Czech Republic as its Albert brand and will have 330 stores if the 50 Spar stores are included, which would make it the country’s largest supermarket chain.
Ahold has been active in the Czech Republic since 1991 and has gradually improved its performance these past few years. The 50 Czech Spar stores managed a 440 million turnover last year, but were still onerous. Nevertheless, Ahold is convinced it can make them profitable within 2 years.
