Dutch retail group Ahold has reached an agreement with fellow grocer Jumbo to acquire four of the retailer’s supermarket outlets and 78 C1000 franchised stores.

Out of the 82 stores, 57 are located in areas where Ahold’s Albert Heijn supermarket banner does not currently operate.

The retailer said the four company-owned outlets would be converted to the Albert Heijn fascia immediately, while the franchised stores would be re-branded gradually “over a period of time”.

In a statement, Ahold said the purchase formed part of its strategy for “sustainable, profitable growth” by expanding its geographical reach through acquiring stores in and adjacent to existing markets.

The retailer said it had paid Jumbo €290m in cash for the transaction, while it would also take over the real estate position of 78 of the 82 branch locations.