The operator of Albert stores is buying Tesco in the Czech Republic and Slovakia

Dutch company Ahold is acquiring Tesco's operations in the Czech Republic and Slovakia for approximately €1.7 billion. The transaction is expected to be completed in the fourth quarter of next year, pending regulatory approval. Tesco has been present in the Czech market since 1996 and operates over 360 stores in the region. Ahold aims to strengthen its position in Central and Southeastern Europe with this acquisition, marking Tesco's exit from the Czech market after 30 years.