ZAANDAM, The Netherlands, Aug. 27, 2002 (PRIMEZONE) -- Koninklijke Ahold N.V. ("Ahold") (NYSE:AHO), the international food retailer and foodservice operator, today announced its wholly-owned Polish subsidiary Ahold Polska Sp.z o.o. ("Ahold Polska") has reached agreement in principle to acquire five hypermarkets from Jeronimo Martins Sp.z o.o. A transaction sum of approximately Euro 20 million is involved. The transaction is subject to regulatory approval and is expected to be finalized in the 4th quarter of 2002.
Jeronimo Martins SGPS, S.A., Ahold's joint venture partner in Portugal, operates five 'Jumbo' hypermarkets on the outskirts and in residential areas of the denselypopulated cities of Poznan, Lodz and Bydgoszcz in Central Poland. The stores generate combined annualized sales of approximately Euro 75 million. The five hypermarkets were built between 1996 and 2000, and the largest has an average selling space of 78,000 sq.ft. (approximately 7,800 sq.m.).
Remarks by Jan Andreae, Ahold Board Member
"We are delighted to be able to add these popular Jumbo hypermarkets to our current store portfolio in Poland," said Jan Andreae, member of the Ahold Corporate Executive Board responsible for European operations. "Despite a challenging and competitive retail environment, we are achieving solid organic sales growth coupled with an ambitious store opening program. Taking over these Polish stores from our partner in Portugal enables us to offer a full range of food products and general merchandise to more local customers. It also boosts our presence and position in an important market for us with significant long-term potential."
Ahold in Poland
Ahold entered the fragmented Polish market in 1995 and has been gradually building critical mass in this Central European country of 40 million people. Ahold Polska saw 2001 sales surge 41% to Euro 553 million (2000: Euro 393 million) and now operates approximately 180 stores including about 150 fullservice 'Albert' supermarkets and discount food outlets. Ahold will operate 26 'Hypernova' hypermarkets in Poland following completion of the transaction and conversion of the five Jumbo stores.
This press release contains "forward-looking" statements. Those forward-looking statements include, but are not limited to, statements as to the expected timing and terms of proposed transactions and expectations as to the completion of proposed transactions. Those forwardlooking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those expressed in those forwardlooking statements. Such factors include, but are not limited to, the effect of general economic conditions, changes in interest rates in the countries in which Ahold operates, the behavior of other market participants and the actions of government regulators. Fluctuations in exchange rates between the Euro and the other currencies in which Ahold's assets, liabilities or results are denominated, in particular the U.S. dollar and the Polish zloty, can also influence the actual results as can other factors discussed in Ahold's public filings. Many of these factors are beyond Ahold's ability to control or estimate precisely. Readers are cautioned not to place undue reliance on such forwardlooking statements, which only speak as of the date of this press release. For a more detailed discussion of such risks and other factors, see Ahold's Annual Report on Form 20F for its most recent fiscal year. Ahold does not undertake any obligation to release publicly any revisions to those forwardlooking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Outside The Netherlands Koninklijke Ahold N.V., which is its registered name, presents itself under the name of "Royal Ahold" or simply "Ahold."