Ahold will invest an additional CZK 1.35bn into rebranding a portfolio of Spar stores into Albert supermarkets. Ahold is taking over 50 Spar outlets in the Czech Republic in a deal worth CZK 5.2bn. Ahold’s Czech director, Jesper Lauridsen, told the daily Hospodářské noviny that rebranding the shops will take approximately six months. He added that Ahold plans to keep all Spar stores, except for those located next to an existing Albert store. “We want to be number one on the Czech market,” Lauridsen told the newspaper. “On the highly competitive Czech market, consolidation is a good thing.”
Ahold will pay half of the CZK 5.2bn in cash, while the other half will be used to cover Spar’s debts. The Czech Antimonopoly Office still approve the transaction.
