Wal-Mart has confirmed it is interested in the businesses Ahold has put up for sale in South America and, at the same time, the US giant has signalled its desire to keep growing in Europe.
Earlier this year troubled global retailer Ahold revealed plans to divest operations in Argentina, Brazil, Peru, Paraguay and Chile as part of its efforts to slash debt.
And John Menzer, president and CEO of Wal-Mart International, told The Grocer this week that it was keen to take a closer look at the businesses.
"Ahold announced assets were for sale and we are all awaiting information," he added.
Menzer also said Wal-Mart wanted to continue growing its operations in Europe, where it owns Asda and a business in Germany.
"Europe primarily would be acquisition because it's difficult to get real estate and permits. So we keep our eyes open and we look at everything available and talk to everyone."
He said Wal-Mart would love to clinch the Safeway deal in the UK but would settle for part of the spoils should the chain be broken up. Menzer acknowledged Wal-Mart's continuing difficulties in Germany, but suggested the business had turned the corner despite the tough economic conditions in that country.
The Wal-Mart chief also made it clear the company was excited by the potential for its minority stake in Seiyu, a chain of 400 supermarkets in Japan
But he cautioned: "It's a three to five-year project to get where we want to be."
Wal-Mart has set itself some ambitious targets for international expansion. Within five years it wants one-third of its sales and earnings growth to be generated from its overseas operations.
Speaking at the Wal-Mart shareholders meeting, Menzer confirmed that the international division would open 120 to 130 stores in this financial year. He told the 18,000-strong audience that the division was generating sales of $40.8bn and operating profit of $2bn.
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Earlier this year troubled global retailer Ahold revealed plans to divest operations in Argentina, Brazil, Peru, Paraguay and Chile as part of its efforts to slash debt.
And John Menzer, president and CEO of Wal-Mart International, told The Grocer this week that it was keen to take a closer look at the businesses.
"Ahold announced assets were for sale and we are all awaiting information," he added.
Menzer also said Wal-Mart wanted to continue growing its operations in Europe, where it owns Asda and a business in Germany.
"Europe primarily would be acquisition because it's difficult to get real estate and permits. So we keep our eyes open and we look at everything available and talk to everyone."
He said Wal-Mart would love to clinch the Safeway deal in the UK but would settle for part of the spoils should the chain be broken up. Menzer acknowledged Wal-Mart's continuing difficulties in Germany, but suggested the business had turned the corner despite the tough economic conditions in that country.
The Wal-Mart chief also made it clear the company was excited by the potential for its minority stake in Seiyu, a chain of 400 supermarkets in Japan
But he cautioned: "It's a three to five-year project to get where we want to be."
Wal-Mart has set itself some ambitious targets for international expansion. Within five years it wants one-third of its sales and earnings growth to be generated from its overseas operations.
Speaking at the Wal-Mart shareholders meeting, Menzer confirmed that the international division would open 120 to 130 stores in this financial year. He told the 18,000-strong audience that the division was generating sales of $40.8bn and operating profit of $2bn.
{{NEWS }}
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