Ahold sells Santa Isabel
Peruvian chain joins list of disposals
December 8 2003
Ahold has agreed the sale of its Peruvian operation Supermercados Santa Isabel.
Part of the troubled Dutch supermarket giant’s exit strategy from South America, the 35-store group is being sold to Grupo Interbank and a consortium of investors led by Nexus Group
The sale price was not disclosed. Grupo Interbank is one of the largest financial groups of Peru, while Nexus Group has interests in entertainment and tourism.
Ahold said its sought a buyer willing to ensure business continuity, providing the best possible option for the customers, employees and suppliers of Santa Isabel.
Ahold entered the Peruvian market in 1998. Santa Isabel is the second largest food retailer in the country, with eight hypermarkets as part of the portfolio, and employs around 5,000 people.
