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Ahold Acquires Julius Meinl

ZAANDAM, NETHERLANDS-Ahold plans to acquire Czech supermarket company, Julius Meinl a.s., growing its presence in the country by 67 stores.

By Jennifer D. Duell | Updated on August 02, 2005

ZAANDAM, NETHERLANDS-Supermarket giant Ahold, emergingfrom a difficult financial period, has agreed toacquire Julius Meinl a.s., a supermarket company with67 stores in the Czech Republic.

The acquisition, which significantly increases Ahold’spresence in Central Europe, is expected to closebefore the end of the year. The financial terms of thetransaction were not disclosed, however, Julius Meinlposted 140 million euros sales during 2004.

The move represents Ahold’s first significantinvestment since Ahold president & CEO Anders Moberglaunched his ‘road to recovery’ program in 2003, aneffort to reduce the company’s debt and get it back onsound financial footing after a huge financialscandal.

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