SOURCE: Delhaize Group

November 23, 2009 12:19 ET

Delhaize Group Closes the Acquisition of Greek Retailer Koryfi

BRUSSELS, BELGIUM--(Marketwire - November 23, 2009) -

BRUSSELS, Belgium, November 23, 2009 - Delhaize Group (Euronext Brussels: DELB - NYSE: DEG), the Belgian international food retailer, announced today that it has completed, through its subsidiary Alfa-Beta Vassilopoulos, the earlier announced acquisition of 11 stores and a distribution center operated under the banner Koryfi for an amount of EUR 7.0 million. This highly complementary acquisition will reinforce the position of Alfa-Beta in Thrace (Northeastern Greece) where it currently has a limited presence.

Konstantinos Macheras, Chief Executive Officer of Alfa- Beta, commented: "The acquisition of Koryfi supports Delhaize Group's objective of accelerating profitable revenue growth and fits in the company's strategy to reinforce its presence in existing or adjacent markets through fill-in acquisitions with strong synergies. Thanks to this perfect fill-in acquisition of 11 well-located stores and a distribution center, Alfa-Beta reinforces its position in the Northeastern part of Greece where it so far only had a limited presence. We are pleased to welcome the employees to the Alfa- Beta family and to continue to serve the Koryfi customers."

In 2008, the revenues of the 11 acquired stores amounted to EUR 30 million. The transaction includes the real estate ownership of two stores and a distribution center. Alfa-Beta plans to convert the acquired stores to Alfa-Beta banners before the end of 2010. The results of the 11 Koryfi stores will be consolidated in Delhaize Group's results from November 23, 2009.

Alfa-Beta is the second largest food retailer in Greece. At the end of the third quarter of 2009, Alfa-Beta's network consisted of 204 stores under the banners Alfa-Beta, AB City Market, ENA cash & carry, AB Foodmarket and AB Shop n' Go. In 2008, Alfa-Beta realized EUR 1.3 billion revenues and it employed 8 821 people.

» Delhaize Group

Delhaize Group is a Belgian international food retailer present in six countries on three continents. At the end of the third quarter of 2009, Delhaize Group's sales network consisted of 2 697 stores. In 2008, Delhaize Group posted EUR 19 billion (USD 28 billion) in revenues and EUR 467 million (USD 687 million) in net profit (Group share). At the end of 2008, Delhaize Group employed approximately 141 000 people. Delhaize Group's stock is listed on Euronext Brussels (DELB) and the New York Stock Exchange (DEG).

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cautionary note regarding forward looking statements

Statements that are included or incorporated by reference in this press release and other written and oral statements made from time to time by Delhaize Group and its representatives, other than statements of historical fact, which address activities, events and developments that Delhaize Group expects or anticipates will or may occur in the future, including, without limitation, statements about strategic options, future strategies and the anticipated benefits of these strategies, are "forward-looking statements" within the meaning of the U.S. federal securities laws that are subject to risks and uncertainties. These forward-looking statements generally can be identified as statements that include phrases such as "guidance", "outlook", "projected", "believe", "target", "predict", "estimate", "forecast", "strategy", "may", "goal", "expect", "anticipate", "intend", "plan", "foresee", "likely", "will", "should" or other similar words or phrases. Although such statements are based on current information, actual outcomes and results may differ materially from those projected depending upon a variety of factors, including, but not limited to, changes in the general economy or the markets of Delhaize Group, in consumer spending, in inflation or currency exchange rates or in legislation or regulation; competitive factors; adverse determination with respect to claims; inability to timely develop, remodel, integrate or convert stores; and supply or quality control problems with vendors. Additional risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements are described in Delhaize Group's most recent Annual Report on Form 20- F and other filings made by Delhaize Group with the U.S. Securities and Exchange Commission, which risk factors are incorporated herein by reference. Delhaize Group disclaims any obligation to update developments of these risk factors or to announce publicly any revision to any of the forward-looking statements contained in this release, or to make corrections to reflect future events or developments.

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