Unconsolidated Joint Ventures and Equity Investees
The following table sets out, for the periods indicated, the net sales and store counts of our joint ventures in Europe and
Latin America, which were not consolidated for all or part of fiscal 2000, fiscal 2001 and fiscal 2002. In addition, we
have a number of equity investees, the primary being Luis Paez S.A. ("Luis Paez"). For additional information regarding
the decision to deconsolidate certain of these entities, please see our financial statements.
2002 2001 2000
Net sales Store count Net sales Store count Net sales Store count
(in eur millions, except store count) (restated) (restated)
ICA (1)
7,742
2,937
7,010
2,991
4,841
3,148
JMR
1,540
198
1,562
198
1,467
198
DAIH (2)
616
2,914
354
2,938
331
Bomprego (2)
705
CARHCO (3)
1,595
289
712
144
629
130
Total Unconsolidated Joint Ventures
11,493
3,424
12,198
3,687
10,580
3,807
(1) Some of the stores serviced by ICA are retailer-owned.
(2) Includes DAIH and Bomprego for periods for which they are not consolidated in our financial statements.
(3) The results in fiscal 2002 and fiscal 2001 reflect the results of Paiz Ahold. In January 2002, Paiz Ahold entered into a new joint venture with CSU, forming
CARHCO.
In April 2000, we acquired a 50% partnership interest in ICA, which in turn owns the ICA Group. The ICA Group is an
integrated food retail and wholesale group, servicing 2,937 retailer-owned and company-owned neighborhood stores,
supermarkets, superstores, hypermarkets and discount stores in Sweden, Norway and the Baltic states as of the end
of fiscal 2002. ICA also provides limited financial services in Sweden.
The ICA Group has been a market leader in Sweden since 1966 based on retail sales. In Sweden, the ICA Group, through
its wholly-owned subsidiary, ICA Handlarnas AB ("ICA Handlarnas"), operates as a wholesaler servicing 1,764 associated
stores under either the "ICA," "MAXI" or "RIMI" brand as of the end of fiscal 2002, all of which were operated by
individual retailers. The relationship between retailers and ICA Handlarnas is governed by various types of agreements,
pursuant to which the retailer pays ICA Handlarnas a specific fee. In exchange, ICA Handlarnas provides the retailers with
various services, including, among others, marketing, format development and supply of goods. In addition, in some cases,
the ICA Group owns or has rights to the store locations, which it leases to the retailer.
As of the end of fiscal 2002, the ICA Group store portfolio in Sweden consisted of 1,033 ICA Nara neighborhood stores,
123 ICA Kvantum large supermarket stores, 439 ICA Supermarked stores, 33 MAXI ICA Stormarknad hypermarkets and
136 RIMI discount stores. At the end of fiscal 2002, the decision was made to terminate the RIMI brand and format
positions and convert existing RIMI stores into ICA brand supermarket or discount stores (NETTO).
In Sweden, the ICA Group also engages in food service activities for the restaurant and convenience store sectors under
the name "ICA Menyföretagen."
In Norway, ICA's wholly-owned subsidiary, ICA Norge AS ("ICA Norge"), supported 1,079 stores under either the ICA, MAXI
or RIMI name at the end of fiscal 2002, which comprised 353 company-owned stores, 438 retailer-owned stores with
franchise agreements and 288 retailer-owned associated stores with cooperation agreements.
Retailers operate the 438 franchise stores in Norway under franchise agreements pursuant to which ICA Norge provides
various services, including, among others, marketing, format development and supply of goods. ICA Norge owns or leases a
substantial number of franchise store premises. Retailers operate the 288 associated stores under cooperation agreements
pursuant to which ICA Norge assists with administration, purchasing organization, distribution and operating and support
systems, and where ICA Norge provides products to the associated stores at purchase price with a mark-up based on
purchase price.
In Norway, ICA Norge supports the RIMI discount format, which is the largest food format in the country and the third
largest retailer in terms of retail market share.
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