BRUSSELS, Belgium, April 1, 2008 - Delhaize Group (Euronext Brussels: DELB - NYSE: DEG), the Belgian international food retailer, announced today that it has completed the earlier announced acquisition of the Greek retailer Plus Hellas through its subsidiary Alfa-Beta Vassilopoulos. The 34 Plus Hellas stores and a new distribution center will reinforce the position of Alfa-Beta in Greece, particularly in Northern Greece where it had a limited presence.
“We look forward to serving our new customers of Plus Hellas and welcome its employees in the Alfa-Beta family,” commented Kostas Macheras, Chief Executive Officer of Alfa-Beta. The Plus Hellas network consists of 34 new stores (average selling area of 795 m2) and a modern distribution center (36,000 m2), including real estate ownership of 11 stores and the distribution center.
Alfa-Beta has acquired Plus Hellas for an amount of EUR 69.5 million, subject to contractual adjustments. The results of Plus Hellas will be consolidated in Delhaize Group’s results from April 1, 2008. Delhaize Group will convert the Plus Hellas stores to Alfa-Beta banners.
Alfa-Beta is the second largest food retailer in Greece. At the end of December 2007, Alfa-Beta’s network consisted of 159 stores under the banners Alfa-Beta, AB City Market, ENA cash & carry, AB Foodmarket and AB Shop n’ Go. In 2007, Alfa-Beta realized EUR 1.2 billion revenues, EUR 37.0 million net profit and it employed 7,545 people.
Delhaize Group
Delhaize Group is a Belgian food retailer present in seven countries on three continents. At the end of 2007, Delhaize Group’s sales network consisted of 2,545 stores. In 2007, Delhaize Group posted EUR 19.0 billion (USD 26.0 billion) in revenues and EUR 410.1 million (USD 562.1 million) in net profit (Group share). At the end of 2007, Delhaize Group employed approximately 138,000 people. Delhaize Group is listed on Euronext Brussels (DELB) and the New York Stock Exchange (DEG).
CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS
Statements that are included or incorporated by reference in this press release and other written and oral statements made from time to time by Delhaize Group and its representatives, other than statements of historical fact, which address activities, events and developments that Delhaize Group expects or anticipates will or may occur in the future, including, without limitation, statements about strategic options, future strategies and the anticipated benefits of these strategies, are “forward-looking statements” within the meaning of the U.S. federal securities laws that are subject to risks and uncertainties. These forward-looking statements generally can be identified as statements that include phrases such as “guidance”, “outlook”, “projected”, “believe”, “target”, “predict”, “estimate”, “forecast”, “strategy”, “may”, “goal”, “expect”, “anticipate”, “intend”, “plan”, “foresee”, “likely”, “will”, “should” or other similar words or phrases. Although such statements are based on current information, actual outcomes and results may differ materially from those projected depending upon a variety of factors, including, but not limited to, changes in the general economy or the markets of Delhaize Group, in consumer spending, in inflation or currency exchange rates or in legislation or regulation; competitive factors; adverse determination with respect to claims; inability to timely develop, remodel, integrate or convert stores; and supply or quality control problems with vendors. Additional risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements are described in Delhaize Group’s Annual Report on Form 20-F for the year ended December 31, 2006 and other periodic filings made by Delhaize Group with the U.S. Securities and Exchange Commission, which risk factors are incorporated herein by reference. Delhaize Group disclaims any obligation to update developments of these risk factors or to announce publicly any revision to any of the forward-looking statements contained in this release, or to make corrections to reflect future events or developments.