Delhaize has announced this week that it has, through its Greek subsidiary Alfa-Beta Vassilopoulos, completed the acquisition of 11 stores and a distribution centre operating under the Koryfi banner.
The €7m deal will reinforce the position of the group in Thrace, north-east Greece, where Alfa-Beta currently has a 'limited presence' according to Delhaize.
'The acquisition of Koryfi supports Delhaize Group's objective of accelerating profitable revenue growth and fits in with the company's strategy to reinforce its presence in existing or adjacent markets through fill-in acquisitions with strong synergies,' said Alfa-Beta CEO Konstantinos Macheras.
'Thanks to this perfect fill-in acquisition of 11 well-located stores and a distribution centre, Alfa-Beta reinforces its position in the north-eastern part of Greece where it so far only had a limited presence,' he added. 'We are pleased to welcome the employees to the Alfa-Beta family and to continue to serve Koryfi customers.'
