AMSTERDAM -(Dow Jones)- Dutch food retailer Royal Ahold NV (AH.AE) said Wednesday it has completed the acquisition of online retailer Bol.com after receiving approval for the transaction from the European Commission Monday.
Bol.com is a retail website in the Netherlands serving 3.4 million active customers. It offers a range of products in various non-food categories including books, entertainment, electronics, toys and the recently added category of baby products.
The European Commission had no objections to the acquisition and didn't place conditions on it, an Ahold spokesman said Tuesday.
Ahold announced the purchase of Bol.com on Feb. 27 and paid EUR350 million in cash to former private equity owners Cyrte Investments and NPM Capital.
The company will examine how Bol.com's sales fit into its marketing, sales and distribution channels. Bol.com becomes the fifth retail brand for Ahold in the Netherlands, alongside Albert Heijn, Etos, Gall & Gall and Albert.nl. The current management team will continue to lead Bol.com.
-By Robert van den Oever, Dow Jones Newswires; +31 20 57 15 201; firstname.lastname@example.org
(END) Dow Jones Newswires
May 09, 2012 06:49 ET (10:49 GMT)
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