Before the end of June, French retailer Carrefour will acquire the stores in Poland from its Dutch-based retail peer Ahold. Carrefour received approval for the transaction from the Polish competition authorities. The Dutch financial newspaper Financieel Dagblad reports this today.

Carrefour pays €375mn – partly in cash, partly in financing debt – for Ahold Polska, which comprises 194 stores, including 15 compact hypermarkets under the Hypernova banner. The Polish authorities approved the deal under the condition that Carrefour will sell parts of the operation, to prevent the French from becoming too dominant, especially in Poland’s four largest cities.

Ahold entered the Polish market in 1995. This market exit fits in Ahold’s divestment strategy from the CEE region. In November 2006 Ahold also announced to divest its activities in Slovakia. The deal with Carrefour is the largest up to now in the rapidly consolidating Polish retail market.