Ahold acquires supermarkets on Canary Islands.Business Editors ZAANDAM, The Netherlands--(BUSINESS WIRE)--January 17, 2001 Royal Ahold (NYSE NYSE See: New York Stock Exchange : AHO), the international food provider, today announced Royal Ahold's Spanish supermarket company, Superdiplo, has signed an agreement to acquire Cemetro, a small supermarket chain on the Canary Islands Canary Islands, Span. Islas Canarias, group of seven islands (1990 pop. 1,589,403), 2,808 sq mi (7,273 sq km), autonomous region of Spain, in the Atlantic Ocean off Western Sahara. They constitute two provinces of Spain. Santa Cruz de Tenerife (1990 pop. . Cemetro operates 24 stores on Gran Canaria Gran Canaria is the third largest island of the Canary Islands, an archipelago located in the Atlantic Ocean 210 km from the northwest coast of Africa and belonging to Spain. It is located southeast of Tenerife and west of Fuerteventura. , Fuerteventura and Lanzarote. The stores are located in high density tourist areas. Annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. sales are approximately Euro 45 million. Superdiplo has requested approval for the transaction from Spanish authorities. Ahold's Superdiplo is a multi-format food retailer with over 300 stores in southern Spain, Andalucia, the Canary Islands and the greater Madrid region. It has annualized sales of Euro 1.5 billion. Ahold also signed an agreement to purchase five Varela supermarkets in the Spanish capital Madrid. Ahold now operates approximately 550 stores in Spain with annualized sales of approximately Euro 2 billion. Background Royal Ahold operates approximately 8,200 supermarkets, hypermarkets and other store formats in the United States, Europe, Latin America and Asia with annualized sales approaching Euro 50 billion. The company is also developing significant experience in the foodservice industry and as an e-commerce player. Ahold employs 400,000 associates and serves the food needs of over 30 million loyal customers in 26 countries every week. Ahold's website can be found at www.ahold.com. In addition to its listing on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (NYSE: AHO), Ahold's shares are trading on the Amsterdam Exchanges and on the Swiss Exchange Swiss Exchange The major securities market of Switzerland. . Additional information is available on Ahold's website: http://www.ahold.com. Royal Ahold press releases may contain `forward-looking' statements. Actual results may differ from such statements as they may have been influenced by factors beyond the company's ability to control. |
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