The Belgian international food retailer, Delhaize, has announced plans to acquire the Greek retailer, Plus Hellas. Plus Hellas belongs to the Plus chain, part of the German Tengelmann Group, and comprised of 33 stores and a distribution centre.

Tengelmann had also recently announced that it was selling its Plus stores in Portugal and Poland to the Portuguese retailer Jerónimo Martins. The Delhaize Group will make the Greek acquisition through its subsidiary Alfa-Beta Vassilopoulos, which will reinforce the retailer’s position, particularly in Northern Greece where it had a limited presence.

The acquisition of Plus Hellas, which has a price tag of €69.5 million is subject to customary conditions, including the approval by the Greek antitrust authorities. The transaction is expected to close in the second quarter of 2008 after which the Plus stores will be converted to Alfa-Beta banners.

Kostas Macheras, chief executive officer of Alfa-Beta, said, “From a geographic and real estate point of view, Plus Hellas is a perfect fill-in acquisition for Alfa-Beta.” Plus Hellas entered the Greek market in 2005 and started its retailing operations in 2006. Alfa-Beta is the second largest food retailer in Greece with154 stores under the banners Alfa-Beta, AB City Market, ENA cash & carry, AB Foodmarket and AB Shop ‘n’ Go.

Related articles:
Tengelman to sell Plus stores to Jerónimo Martins
Tesco bids on Plus Discount in Czech Republic
Tengelmann may sell 250 Spanish Plus discount stores to Carrefour