Belgian Delhaize is to sell all of its 54 Bulgarian stores. The Piccadilly and Piccadilly Express stores will be sold to AP Mart, a deal which should be finalized in the second quarter of 2014.
Focus on leading markets
“There is a similar logic in this sale as there was in the sale of our Montenegrin activities. We prefer to focus our energy and means on leading markets, like Romania, Serbia and Greece”, spokesperson Steven Vandenbroeke told De Tijd, a Belgian paper. Currently the chain operates stores in and around Bulgaria's major cities Sofia, Varna and Plovdiv.
The Bulgarian stores belonged to the Delta Maxi network, which Delhaize purchased in 2011 for 900 million euro in an attempt to gain a foothold in the Balkan region. That move proved to be largely unsuccessful however and Delhaize had already sold its stores in Albania and Montenegro activities. According to certain rumours, Delhaize is also looking to sell its Bosnian stores later on.