Ahold and Delhaize Group reach agreements with buyers to divest 86 U.S. stores, subject to FTC merger clearance
(Thomson Reuters ONE) -
* All purchase agreements are subject to FTC approval and clearance by the FTC
of the Ahold and Delhaize Group merger
* All divested stores to be sold to well established supermarket retailers
* Divestments represent 4.1% of the Ahold and Delhaize companies' total
combined U.S. store count and 3.2% of the Ahold and Delhaize companies'
combined U.S. 2015 net sales
* The companies continue to expect to complete the merger before the end of
July
Zaandam, the Netherlands - Ahold and Delhaize Group today announced that their
United States subsidiaries have reached agreements with buyers to divest a total
of 86 stores in a limited number of locations in which the companies' U.S.
subsidiaries both operate. These divestments are being made in connection with
the United States Federal Trade Commission's (FTC) pending review of the
proposed merger between the two companies. The divested stores are being sold to
well established supermarket operators.
All of the purchase agreements are subject to FTC approval. The agreements are
also subject to FTC clearance and formal completion of the Ahold and Delhaize
Group merger, which the companies continue to expect before the end of July.
Ahold CEO Dick Boer said: "The combination of Ahold and Delhaize Group is a
unique opportunity to deliver even more for customers, associates and local
communities. Together, Ahold and Delhaize Group have been working hard to
resolve the competition concerns raised by the FTC, and we are pleased to have
found strong, well established buyers for the stores we are required to divest.
We deeply appreciate the long-time support of our customers and associates in
these locations and are confident that the new owners will continue to serve
local communities well."
The buyers of the 86 stores being divested are:
* New Albertson's, Inc. (part of Albertsons Companies based in Idaho)
purchasing 1 Giant Food store in Salisbury, Maryland;
* Big Y (based in Massachusetts), purchasing 8 Hannaford stores in eastern
Massachusetts;
* Publix (based in Florida), purchasing 10 MARTIN'S stores in Richmond,
Virginia;
* Saubel's Markets (based in Pennsylvania) purchasing 1 Food Lion store in
York, Pennsylvania;
* Supervalu (based in Minnesota), purchasing 22 Food Lion stores in Maryland,
Pennsylvania, Virginia and West Virginia;
* Tops Markets (based in New York), purchasing 1 Stop & Shop store in
Massachusetts as well as 3 Stop & Shop stores and 2 Hannaford stores in New
York; and
* Weis Markets (based in Pennsylvania), purchasing 38 Food Lion stores in
Delaware, Maryland and Virginia.
The divested stores are expected to be converted by the buyers to their new
banners and re-opened as supermarkets after any remodeling planned by the
buyers.
A full list of the locations being sold by both companies as part of this
process is attached as an annex to this press release.
On June 24, 2015, Ahold and Delhaize announced their intention to merge,
creating an international retailer with a portfolio of strong, trusted local
brands, more than 6,500 stores and over 375,000 associates. These brands serve
more than 50 million customers every week in Europe and the United States.
FTC clearance is the remaining regulatory approval requirement for the Ahold and
Delhaize Group merger. In March of this year, the Belgian Competition Authority
(BCA) granted its conditional approval for the merger. Also in March,
shareholders of both companies approved the merger with an overwhelming
majority.
Please visit www.ahold.com, www.delhaizegroup.com or www.adcombined.com for more
information.
2016/15
160714_PR US divestments_ENG:
http://hugin.info/130711/R/2028529/754151.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ahold via GlobeNewswire
[HUG#2028529]
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Datum: 14.07.2016 - 02:59 Uhr
Sprache: Deutsch
News-ID 483257
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