ZAANDAM, Netherlands — Dutch supermarket operator Royal Ahold will sell its Slovakian business to Slovakia-based retailer Condorum, Ahold said Thursday.
Ahold - whose U.S. business includes the Stop & Shop, Giant-Landover and Giant-Carlisle supermarket chains and the Peapod online grocery service - said exiting the Slovakian market would allow it to focus on improving its business in the Czech Republic. Ahold Slovakia operates 24 stores, with sales of $214 million last year, which the company described as a "limited market position"; the company operates 283 Albert stores in the Czech Republic, with $2.4 billion in sales last year.
Condorum operates more than 90 retail stores in Slovakia under the Terno and Moja Samoska banners, with $171 million in sales last year. Financial terms of the deal were not disclosed.