Ahold Delhaize is buying Tesco’s operations in the Czech Republic and Slovakia in a deal valued at about €1.2 billion, or roughly €1.7 billion including lease liabilities.
The Dutch-Belgian supermarket group announced the agreement on Friday in a press release. Ahold Delhaize already operates in the Czech Republic through its Albert chain, while Slovakia will be a new market for the company.
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The acquisition will add more than 360 company-owned supermarkets, hypermarkets and convenience stores to Ahold Delhaize’s portfolio.
Tesco Czech Republic and Slovakia also has more than 100 affiliated stores run by independent operators.
Under the deal, Ahold Delhaize will take over the British supermarket group’s operations in both countries in full. The transaction is still subject to approval by the relevant authorities.
