Amsterdam, The Netherlands Dutch retailer Royal Ahold said Thursday said it is reorganizing its United States and European operations in order to position itself to make acquisitions in both new and existing markets, according to a report in the Wall Street Journal.
Ahold will set up four new U.S. divisions from the two it operates currently. Stop&Shop/Giant-Carlisle and Giant Landover are separated into Stop & Shop New England, Stop & Shop Metro New York, Giant-Landover and Giant-Carlisle.
"The changes will also allow Dick Boer and Larry Benjamin to devote more time to growth opportunities in existing and new markets," CEO John Rishton said in a statement.
At Ahold's second-quarter results, the CEO had alluded to making acquisitions, suggesting that the downturn should set up acquisition opportunities and that the company could be positioned to snap up any stores that are sold by its rivals.