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Ahold purchases Dutch online retailer

New York City -- Royal Ahold NV has agreed to acquire bol.com, the Netherlands’ largest online retailer, for about $470 million in cash.

“Bol.com provides us with the platform, scale and expertise we need to accelerate our growth in online retailing,” said Dick Boer, CEO, Ahold. “Its capabilities and operations in nonfood categories will broaden our assortment and increase our online presence, adding to the existing online food offering through albert.nl. Together, we will be able to offer customers more choice, greater convenience and better value.”