Ahold, the Dutch conglomerate that owns US retailer Giant-Carlisle, has bought Virginia-based grocer Ukrop’s Super Markets for US$140m.
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The deal, Ahold said today (18 December), which includes 25 stores from the family-owned Richmond chain, will help expand its presence in the state.
The transaction also includes inventory, equipment, lease agreements and one new store location. Giant-Carlisle will hire Ukrop’s store associates, the company said.
John Rishton, CEO of Ahold, said: “This acquisition is part of Ahold’s profitable growth strategy. Ukrop’s is a great company with a strong heritage in an attractive market. We believe that Giant-Carlisle and Ukrop’s will be a strong combination.”
The transaction is expected to close in the first quarter of 2010 and is subject to customary conditions.
The move is a continuation of plans Ahold made last month to reorganise its US and European operations to position itself to make acquisitions in new and existing markets.
The firm set up four new US divisions – Stop & Shop New England, Stop & Shop Metro New York, Giant-Landover and Giant-Carlisle.
Ahold has insisted that the reorganisation was made to “simplify and streamline” its business.
