On 1 April, Delhaize Group, the Belgian international food retailer, announced that it has signed an agreement with Tropic Group BV on the sale of its Bosnian & Herzegovinian stores.
Delhaize Group has signed an agreement with Tropic Group BV, to divest all of its 39 Bosnian & Herzegovinian stores.
Tropic Group BV is an entrepreneurial organisation founded by Bojan Risovic. 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 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.