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Ahold To Acquire 25 Ukrop's Stores

December 18, 2009
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Ahold, based in the Netherlands, announced that Giant-Carlisle, a division of Ahold USA, will expand its presence in Virginia by acquiring 25 stores from Richmond, Va.-based Ukrop’s Super Markets Inc. Giant-Carlisle said it also would hire Ukrop's store associates. The purchase price is approximately $140 million.

“This acquisition is part of Ahold’s profitable growth strategy,” said John Rishton, CEO of Ahold. “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.

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