BRUSSELS — Delhaize Group here said it has reached an agreement to sell 25 Maxi, Mini Maxi, and Tempo stores in Montenegro to Expo Commerce. Fincancial terms were not disclosed.
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Expo is a distributor of major branded fast-moving consumer goods. Delhaize and Expo will enter into a franchise agreement maintaining the Maxi, Mini Maxi and Tempo names. In 2012, these stores generated revenues of around $62.5 million (U.S.).
Delhaize said the transaction is expected to close in the fourth quarter of 2013 and is subject to regulatory approval and customary closing conditions.
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