Dutch retail giant Ahold said Monday it had acquired leading online retailer bol.com for 350 million euros ($470 million).
A statement said the move was an "important next step in Ahold's growth strategy, which focuses on growing sales by increasing customer loyalty, broadening its offering and expanding geographic reach.
"Bol.com is the most visited retail website in the Netherlands serving 3.4 million active customers, with total net sales of 355 million euros in 2011," it said.
"It offers a broad range of products in various non-food categories including books, entertainment, electronics and toys. Almost half of all Dutch customers who purchased products online shopped at bol.com in 2011, buying more than 17 million products."
Ahold has more than 3,000 stores and employs around 122,000 full-time staff in 11 countries in Europe and North America.