Dutch supermarket group Jumbo has won the battle to acquire Casino’s subsidiary Super de Boer after raising its original offer.

The new offer values the company at E552.5m (£503.5m). Super de Boer has become something of a prized asset, with various supermarkets bidding for the chain after Jumbo’s original offer.

“This is a very attractive transaction for our stakeholders,” Super de Boer chief executive Jan Brouwer said.