SOURCE: Ahold NV

December 17, 2009 16:39 ET

Ahold's Giant-Carlisle Division Agrees to Acquire Ukrop's Stores

AMSTERDAM, NETHERLANDS--(Marketwire - December 17, 2009) - Ahold today announced that Giant-Carlisle, a Division of Ahold USA, will expand its presence in Virginia by acquiring 25 stores from Ukrop's Super Markets, Inc. Ukrop's is a family-owned business based in Richmond, Virginia. The transaction includes 25 stores, inventory, equipment, lease agreements and one new store location. Furthermore, Giant-Carlisle will hire Ukrop's store associates. The purchase price is approximately $140 million.

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 closing of the transaction is expected to take place in the first quarter of 2010 and is subject to customary conditions.

About Giant-Carlisle

Giant-Carlisle, a division of Ahold USA, operates more than 150 stores in Pennsylvania, Virginia, Maryland and West Virginia under the names of GIANT and MARTIN'S. These stores compete as market leaders and are among the best known retail brands in the communities they serve. Giant-Carlisle employs more than 26,000 full and part-time associates.

Cautionary notice

This press release includes forward-looking statements, which do not refer to historical facts but refer to expectations based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those included in such statements. These forward-looking statements include, but are not limited to, statements as to the transfer of stores, inventory, equipment, lease agreements and one new store location, the hiring by Giant-Carlisle of Ukrop's store associates, the closing of the transaction and the expected market position of the combination of Giant-Carlisle and Ukrop's. These forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results included in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond Ahold's or Giant-Carlisle's ability to control or estimate precisely, such as the effect of general economic or political conditions, or increases or changes in competition. the success of the transaction or their plans and strategies, the benefits from and resources generated by the transaction or these plans and strategies being less than or different from those anticipated, changes in Ahold's liquidity needs, the actions of competitors and third parties and other factors discussed in Ahold's public filings. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Koninklijke Ahold N.V. -- which is its statutory name -- does not assume any obligation to update any public information or forward-looking statement in this release to reflect subsequent events or circumstances, except as may be required by applicable securities law. Outside the Netherlands, Koninklijke Ahold N.V. presents itself under the name of "Royal Ahold" or simply "Ahold."

Contact Information

  • Contact:

    Ahold Press Office:
    +31 20 509 5291

    Ahold Investor Relations:
    +31 20 509 5216