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Delhaize Group sells stores in Bosnia

Staff writer |
Belgian international food retailer Delhaize Group has signed an agreement with Tropic Group on the sale of its Bosnian and Herzegovinian stores.

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Delhaize Group has signed an agreement with Tropic Group B.V., to divest all of its 39 Bosnian & Herzegovinian stores. Tropic Group B.V. is an entrepreneurial organization founded by Mr. Bojan Risović. He is an established retailer with a long history of successfully running retail enterprises.

The transaction is expected to complete in the third quarter subject to regulatory approval and working capital adjustments.

Delhaize Group is a Belgian international food retailer present in nine countries on three continents. At the end of 2013, Delhaize Group's sales network consisted of 3 534 stores. In 2013, Delhaize Group posted €21.1 billion in revenues and €179 million in net profit (Group share).

At the end of 2013, Delhaize Group employed approximately 160 000 people. Delhaize Group's stock is listed on NYSE Euronext Brussels (DELB) and the New York Stock Exchange (DEG).

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