Ahold Shells Out $266M For Czech Grocery Chain

Law360, New York (March 11, 2014, 2:21 PM EDT) -- Ahold NV will buy 50 of Austria-based SPAR AG’s grocery stores in the Czech Republic for 5.25 billion Czech koruna ($266 million), highlighting the Dutch grocery store operator’s efforts to strengthen its position in current and nearby markets.

Under the terms of the deal, Ahold will grab a string of 36 compact grocery markets and 14 supermarkets that generated 12 billion koruna in revenue in 2013, according to a Tuesday statement. The all cash transaction will be funded with the company’s existing resources.

The Dutch grocery...
To view the full article, register now.