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Ahold is acquiring 67 Julius Meinl supermarkets in the Czech Republic, the first acquisition made by the company in three years and the first since an accounting scandal threw its finances into turmoil. Terms of the deal, which is expected to close later this year, were not disclosed.

The company has said that as part of its “Road to Recovery” program, it will “continue to invest in companies that can achieve a sustainable number one or two position in their markets within three to five years, while also meeting defined profitability and return criteria over time.”

Ahold will now own about 300 stores in the Czech Republic. The stores reportedly will be rebranded as “Albert” stores, the name used by the company in Eastern Europe.
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