Dutch retailer Ahold and Condorum, the Slovakian grocery retail operator, have reached an agreement on the sale of Ahold Slovakia. The company currently operates 24 stores with net sales of €159 million in 2012.
The decision was made strategically by Ahold, as the business held a limited market position in Slovakia. Following the sale, Ahold can now focus on the continued improvement of its Czech Republic business, where the company operates 283 Albert stores, and boasted net sales of €1.76 billion in 2012.
Condorum already operates more than 90 retail stores in Slovakia under the brand names Terno and Moja Samoska, with 2012 net sales of approximately €127 million.
Although financial details of the transaction have not been released, the sale is expected to close in the first half of 2014, and is subject to customary conditions.
© 2013 - Checkout Magazine by Stephen Wynne-Jones