NautaDutilh assisted the Colruyt Group in reaching an agreement with Louis Delhaize to acquire 28 Match and 29 Smatch stores and the real estate of 6 sites in Belgium. The 57 Match and Smatch stores generated sales of approximately EUR 300 million in 2022 and employ 1,069 people. This transaction is in line with the long-term strategy of the Colruyt Group with a view to accelerated growth.
The Colruyt Group is a family business that has grown over three generations into a retail group with more than 33,000 employees and a diverse portfolio of food and non-food products in Belgium, France and Luxembourg. The group generated a revenue of EUR 10.8 billion in 2022/23 and is listed on Euronext Brussels. The Colruyt Group has more than 700 own stores and 580 affiliated stores. In Belgium, the Group offers products or services to consumers through a number of brands, including Bike Republic, Bio-Planet, Colruyt Lowest Prices, Cru, DATS 24, Dreambaby, Dreamland, Kangourou, Okay, PointCarré, Spar, Jims, Newpharma, The Fashion Store and Zeb.
"The Belgian retail sector has undergone a period of rapid change, especially over the past year. With this acquisition, the Colruyt Group consolidates its position as a leading force in the retail sector. We are pleased to have been able to assist our longstanding client in this strategic transaction," says lead partner Nicolas de Crombrugghe.
The team further consisted of Olivier Van Wouwe, Louisa Vandepitte and Don Baudewyns (Corporate & Finance), Julie De Bonnet, Stanislas Cartier, Louise Vanherreweghe, Estelle Langenaeken (Real Estate), Jens Mosselmans, Leana Derard, Mathijs Van Haver (Regulatory), Lentle Nijs (Finance), Philippe François, Thierry Duquesne, Frédérique Czanik (Employment), Ken Lioen, Bruno Vanden Berghe, Hanne Nelissen (Tax) and Evi Mattioli (Competition).
The transaction is subject to the approval of the Belgian Competition Authority.