ALFA-BETA" VASSILOPOULOS, informs the investors that today it finalized the earlier announced acquisition of the Greek retailer SUPER MAREKT KORIFI S.A.. The 11 KORIFI S.A. stores and a distribution center will reinforce the position of Alfa-Beta in Greece, particularly in Thrace where it had a limited presence.
Mr Konstantinos Macheras, Chief Executive Officer of Alfa-Beta commented: "We are pleased to welcome the employees in the family of Alfa-Beta where together we will be serving our new customers of KORIFI S.A." KORIFI S.A. network consists of 11 stores (average selling area of approximately 800 m2) and a distribution center, including real estate ownership of 2 stores and the distribution center.
Alfa-Beta has acquired KORIFI S.A. for an amount of EUR 7.04 million, subject to contractual adjustments. The results of KORIFI S.A. will be consolidated in Alfa-Beta results as of November 23, 2009. Moreover, the KORIFI S.A. stores will be gradually converted to Alfa-Beta banners.
"ALFA-BETA" VASSILOPOULOS S.A., is a food retail company established in 1969 and member of the Belgian Delhaize Group since 1992. At 30.09.2009, "ALFA-BETA" Group operated 204 stores (155 company operated food retail sales points, 10 cash-and-carry stores, & 39 affiliated stores). In 2008, Consolidated Turnover amounted to EUR 1,337.1 million and Consolidated Profit before tax to EUR 41.0 million. "ALFA-BETA" VASSILOPOULOS S.A. is listed on the Athens Stock Exchange (BASIK) since 1990.