2023-09-22 06:44:00
On Thursday, Colruyt Group entered into an agreement with the Match and Profi subsidiaries of the Louis Delhaize group for the acquisition of 28 Match stores and 29 Smatch stores in Belgium, it announced on Friday. If the transaction is approved by the Belgian Competition Authority (ABC), the transaction is expected to be finalized in the first quarter of 2024.
The 57 stores affected (out of around 80) by the agreement employ 1,069 people and together achieved a turnover of around 300 million euros in 2022. Current workers will keep their jobs and their conditions, assures Colruyt Group.
Also read “A collective dismissal procedure”: 690 jobs threatened in Match and Smatch not taken over by Colruyt
The 57 stores, “which are geographically complementary to the Colruyt network”, will be evaluated in the coming months in order to determine the most appropriate formula (OKay, Colruyt, etc.). The result will depend in particular on the size of the store, the local market and the needs of customers.
“With this acquisition, as the only truly Belgian retailer, we are determined to continue the work of the Louis Delhaize group in Belgium, where its roots are anchored. It is also a commitment that we make to all employees of the Smatch and Match stores concerned and to their customers. We are committed to providing a positive follow-up to this acquisition in an increasingly internationalized context.“, comments COO Jo Willemyns.
No financial details of the transaction will be disclosed. An extraordinary works council is underway as we speak.
The Louis Delhaize group is getting rid of its stores little by little. This year, it notably concluded takeover agreements with Carrefour for all Match and Smatch brands in France, i.e. 60 hypermarkets and 115 supermarkets, and with E. Leclerc for 2 hypermarkets and 25 supermarkets and convenience stores in Luxembourg.
Louis Delhaize, brother of the founders of the Delhaize le Lion brand, founded the group that bears his name in 1875 in the Charleroi region.
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