Note 4
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4 Acquisitions
2006 Acquisitions
Clemens
On October 30, 2006 Ahold completed the acquisition of
14 stores from Clemens Market Inc., of which 13 were
subsequently converted to Giant Food Stores while one store
continued to be operated under the existing Foodsource
banner.
The allocation of the net assets acquired and the goodwill
arising at the acquisition date is as follows:
Fair value
Non-current assets
17
Current assets
6
Non-current liabilities
(2)
Current liabilities
(2)
Net assets acquired
19
Goodwill
46
Total purchase consideration
65
The acquired stores contributed EUR 30 to Ahold's
consolidated net sales and EUR (3) to Ahold's consolidated
net income from October 30, 2006 to December 31, 2006.
The goodwill is attributable to Giant-Carlisle.
Konmar
On May 31, 2006, Ahold entered into a purchase agreement
with Laurus for the acquisition of 29 Konmar stores. On
November 14, Ahold completed the acquisition of 27 stores.
Of these 27 stores, 21 stores are operated by Albert Heijn,
while six stores were transferred to and are operated by
Schuitema. The remaining two stores are expected to be
transferred to Albert Heijn upon the fulfillment of certain
contractual conditions, which is expected in the first half
of 2007.
The allocation of the net assets acquired and the goodwill
arising at the acquisition date is as follows:
Fair value
Non-current assets
9
Current assets
6
Non-current liabilities
(3)
Current liabilities
Net assets acquired
12
Goodwill
89
Total purchase consideration
101
The acquired stores contributed EUR 31 to Ahold's
consolidated net sales and EUR (6) to Ahold's consolidated
net income from November 14, 2006 to December 31,
2006. The goodwill is attributable to Albert Heijn (EUR 79)
and Schuitema (EUR 10).
Others
In 2006, Ahold completed several other acquisitions that
were insignificant both individually and in the aggregate.
All acquisitions have been accounted for by the purchase
method of accounting.
2005 Acquisitions
Julius Meinl
In December 2005, Ahold completed the acquisition of
58 stores in the Czech Republic from Julius Meinl a.s. for a
total purchase consideration of EUR 32. Goodwill amounted
to EUR 20 and is attributable to Ahold Czech Republic.
2004 Acquisitions
ICA
In November 2004, Ahold increased its stake in ICA from
50 percent to 60 percent, for a net purchase consideration
of EUR 492, by acquiring a 20 percent stake in ICA and
subsequently selling a 10 percent stake in ICA to its joint
venture partner Hakon Invest AB ("HIAB"). Goodwill
amounting to EUR 10 was recognized as a result of Ahold's
10 percent net increase in its stake in ICA.
Ahold Annual Report 2006 69
