Ahold Delhaize has agreed to take over 39 stores from the Deen chain in the Netherlands as part of a larger deal to buy and dissolve Deen.
Financial details were not disclosed. In a joint statement, Ahold said Deen was selling all its 80 stores.
Ahold will convert 39 of them to its Albert Heijn brand, while competitors Vomar Voordeelmarkt will buy and convert 22 and DekaMarkt will buy and convert 19.
The companies said that all or almost all employees will keep their jobs.
'A Unique Addition'
Albert Heijn CEO, Marit van Egmond, commented, "For Albert Heijn, it is a unique addition to our store base in North Holland and an important strategic step. Deen is a traditional Dutch family business, committed with heart and soul to their employees and customers.
"The expertise, the experience in the stores, and their strong commitment to the community, are a great fit with everything we also stand for. Together with Deen’s employees, we look to the future with confidence."
The family-owned Deen company said that high costs needed for investments in mechanisation and e-commerce in the coming years to remain competitive had led to its decision to sell the company.
'A Difficult But Logical Step'
Deen CEO, Leendert van Eck, who has been leading the company since 2016, described the acquisition as a difficult but logical step.
"We have built a fine company and thanks to the hard work of our employees and our loyal customer base, we can look back on wonderful years. To be future-proof, significant financial efforts are required, but the family has made a different choice," van Eck added.
The deal, subject to customary closing conditions, is expected to close in the second half of the year.
