Delhaize reports net earnings down - will finish acquisition of Delhaize America - Brief Article - Statistical Data Included

Eurofood, March 29, 2001

Belgian retailer Delhaize has reported a decline in profit from 2000, which it said was down to acquisition costs, and the intense competition in the US. Delhaize has significant activities in the US, underlined by its US$3.6bn (3.8bn [European Dollar]) acquisition of the Hannaford Brothers chain of 108 stores. Net earnings for Delhaize reached 161m [European Dollar], down from 170m [European Dollar] generated in 1999.

Delhaize is currently in the process of acquiring the remaining 50% of the shares it does not already hold in Delhaize America, a leading US supermarket chain with significant presence on the East coast. Delhaize is also planning a restructuring of its management following a shareholder meeting planned for May.