Ahold shops for Spar’s Czech outlets

Dutch retail chain Ahold is seeking to leapfrog its rivals with the purchase of Spar’s Czech outlets. Ahold has agreed to pay over 5 billion crowns for the 36 Czech hypermarkets and 14 supermarkets operated by the Austrian firm. The extra annual sales of around 15 billion crowns would catapult Ahold from third to first place as the Czech Republic’s biggest retailer. Ahold currently trails Kaufland and Tesco. The deal has still to be approved by the Czech competition office.