AHOLD : continues to invest in growth and strengthens Albert Heijn's position in the Netherlands
04/26/2012| 03:20pm US/Eastern
Amsterdam, the Netherlands, April 26, 2012 - Ahold today has reached an agreement with Jumbo regarding the transfer of 78 C1000 and 4 Jumbo stores. The majority of the stores are owned by entrepreneurs; four are company-owned stores.
This step fits within Ahold's strategy for sustainable, profitable growth. Expanding our geographic reach through acquiring stores in and adjacent to existing markets is an important part of the company's strategy, in addition to increasing customer loyalty and broadening our offering.
Out of the 82 stores, 57 are located in areas where Albert Heijn does not currently operate. In the other locations, customers will be able to buy their daily groceries from an Albert Heijn store that will now be closer to them.
The four company-owned stores will be converted to the Albert Heijn banner as soon as possible. The other stores will be converted to the Albert Heijn banner over a period of time, in close cooperation with the entrepreneurs.
Ahold will pay Jumbo €290 million in cash for this transaction. Ahold will take over the real estate position of 78 of the 82 branch locations. In 2011, the 82 stores achieved consumer sales of approximately €800 million. The transaction with Jumbo is subject to customary conditions, including approval by competition authorities.
Ahold Press Office: +31 88 659 5343
Ahold Investor Relations: +31 886595213
Certain statements in this press release are 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. The statements include, but are not limited to, statements as to the conversion to the Albert Heijn banner and the satisfaction of customary conditions including, but not limited to, the approval by competition authorities. Many of the risks and uncertainties relate to factors that are beyond Ahold's ability to control or estimate precisely, including but not limited to, unexpected delays in the completion of the acquisition, inability to satisfy any closing conditions to such acquisition, any actions or inactions of government regulators and other third parties, unexpected delays in the conversion to the Albert Heijn banner and other factors discussed in Ahold's public filings and other disclosures. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as per the date of this press release. Ahold does not assume any obligation to update any public information or forward-looking statements in this release to reflect subsequent events or circumstances, except as may be required by applicable laws. Outside the Netherlands, Koninklijke Ahold N.V., being its registered name, presents itself under the name of "Royal Ahold" or simply "Ahold". Ahold is the parent company of the Ahold group, of which Albert Heijn B.V. is a member.
Ahold press release April 26 2012:
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Source: Ahold via Thomson Reuters ONE