Supermarket Chains Finally Combine to Become Ahold Delhaize
ZAANDAM, NETHERLANDS – Completing its expected merger over the weekend, Dutch supermarket chain Ahold and Belgium’s Delhaize have finally combined to form one bolstered retail chain; Ahold Delhaize.
“Our strong e-commerce businesses and 22 great, local brands each share a passion for delivering great food, value, and innovation for customers, and for making a difference in their local communities,” stated Dick Boer, CEO of Ahold Delhaize. “I want to thank associates for their dedication and focus and for the great work that has positioned Ahold Delhaize to move ahead with significant momentum."
According to Yahoo Finance UK, the newest retail entity, merged on July 24, is a leader in both the supermarket realm and e-commerce with 6,500 stores in 11 countries.
Launching its new brand, Ahold Delhaize has debuted a new logo, which combines the Ahold crown with the Delhaize lion. The company's new website is also live and features an announcement of the completed of the merger with an online video, viewable below.
"Today is the start of an important new chapter and a unique opportunity to deliver even more for customers and communities, associates and shareholders,” finished Boer. “Building on common values, complementary operations and proud legacies of success, we move forward with leading positions particularly on the United States East Coast, and in Europe."
Dutch News reported that Ahold Delhaize already debuted on the Amsterdam and Brussels stock exchanges under the ticker symbol AD, rising 1% to €21.93 in early trading on Euronext Amsterdam. The company's estimated sales after the merger are projected to be €50 billion a year (or roughly $54 billion) two thirds of which comes from the U.S. market.
Dick Boer, Ahold’s Chief Executive, will serve as CEO of the new company, with the former Delhaize CEO, Franz Muller, appointed as Deputy Chairman and Chief Integration Officer.
The first combined financial reportings of the combined supermarket chain will be presented on November 17 for 2016’s Q3. The companies’ Q2 and first half of 2016 results will be reported individually for each merged company as the deal was completed after the end of the reporting periods.
As more news is released on this formidable merger, and its financial ripples make its way to U.S. markets, AndNowUKnow will continue to have the latest.
