"ALFA-BETA" VASSILOPOULOS S.A. (Athens Stock Exchange: BASIK), informs the investors that today it entered into an agreement for the acquisition of the Greek retailer SUPER MARKET KORIFI S.A. This complementary acquisition of 11 stores and a distribution center will reinforce the position of Alfa-Beta especially in Thrace where it currently has a limited presence.
Mr. Konstantinos Macheras, Chief Executive Officer of Alfa-Beta, commented: "Considering its geographical position as well as its real estate, the acquisition of KORIFI S.A. is a significant fill-in acquisition that will offer an important presence of Alfa-Beta in Thrace, an area where we were almost absent until recently"
The acquisition concerns 11 new stores (of an average sales area of approximately 800 m2) as well as of a distribution centre, capable to serve the needs of the wider geographical area, including the real estate ownership of two stores and the distribution center. KORIFI S.A. stores will be converted to Alfa-Beta banners.
The acquisition price amounts to 7.04 mio EUR (plus mio EUR 1.8 in financial debt) subject to contractual adjustments. Moreover, the acquisition itself is subject to customary legal conditions as well as to the approval by the Greek Competition Commission. The transaction is expected to be concluded by the end of 2009.
"ALFA-BETA" VASSILOPOULOS S.A.
"ALFA-BETA" VASSILOPOULOS S.A., is a food retail company established in 1969 and member of the Belgian Delhaize Group since 1992. At 31.08.2009, "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.