Ahold Delhaize's US banner Stop & Shop has announced the takeover of King Kullen Grocery Co., a network of stores located in Bethpage, New York.
The agreement sees Ahold Delhaize take over 32 King Kullen's supermarkets, five Wild By Nature stores, and corporate offices associated with the group. The financial terms of the deal were not disclosed.
The move comes as Ahold Delhaize seeks to bolster its presence in New York's Long Island.
“This transaction underscores our commitment to further strengthen the positions of our great local brands in the US, both through organic growth and fill-in acquisitions,” said Ahold Delhaize CEO Frans Muller.
The acquisition is expected to close during the first quarter of 2019, subject to competition approval and closing conditions.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.
