Delhaize said Tuesday that it reached an agreement to sell all 39 of its stores in Bosnia and Herzegovina to Tropic Group B.V. Terms of the sale were not disclosed.
Tropic Group is an entrepreneurial organization founded by Bojan RisoviÄ. Delhaize described him as an established retailer with a long history of successfully running retail enterprises.
The transaction is expected to complete in the third quarter and is subject to regulatory approval.
Delhaize entered Bosnia and Herzegovina through the purchase of Delta-Maxi business in 2011. It operated 20 Maxi supermarket and 19 Mini Maxi convenience stores there.
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