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AMSTERDAM -- Ahold here said yesterday it has successfully acquired 27 of the 29 stores in the Dutch Konmar chain from Laurus Nederland B.V.
Of the 27 stores, 21, among them two franchise stores, will be operated by the retail conglomerate's Albert Heijn banner; while six locations, including one franchise store, will be transferred to and operated by Ahold's Schuitema consolidated subsidiary.
The remaining two stores, including one franchise store, will be transferred to Albert Heijn upon the fulfilment of certain contractual conditions, which is expected in the first half of 2007, on a store-by-store basis. Albert Heijn and Schuitema paid a combined 100.9 million euros for the stores, a price that includes inventory and certain receivables.
According to Ahold, it has begun converting the acquired stores into Albert Heijn and C1000 supermarkets. The first opening of a former Konmar store, rebranded and remodeled as an Albert Heijn location, is slated for late this month. Ahold first revealed the transaction, which was subject to certain closing conditions, at the end of May.