Delhaize To Continue Investing In Greece

February 2008 | Company News Alert

Belgium-based Delhaize Group has revealed that in 2008 it will invest EUR140mn (US$204mn) in its Greek supermarket chain Alfa-Beta. The money will go towards opening new stores, improving the firm's distribution network and rebranding the Plus Hellas stores recently acquired from the German Tengelmann Group. Alfa-Beta is the second-largest retailer in Greece and significantly expanded its operations in 2007 with the opening of 11 new stores and the acquisition of the 33 Plus Hellas stores. This most recent announcement signals that Delhaize has adopted a long-term program of investment in Greece - a logical move given the recent strong results

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