OPERATIONS

True Value adds partner in Puerto Rico

BY Dan Berthiaume

Chicago – True Value Co. has added National Lumber and Hardware, a 50-plus-store chain in Puerto Rico, as the newest purchasing partner of the cooperative. The growth of True Value’s international presence is a key initiative as the company focuses on its long-term strategic plan.

“We’re excited to enter into this new relationship with National as this marks an important expansion of the Puerto Rican market for True Value,” said Lars Hybel, VP of International, True Value Co.

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FINANCE

Ahold, Delhaize in $29 billion merger

BY Mike Troy

New York — The combination of Royal Ahold and Delhaize Groupe creates a new super-regional chain along the Eastern Seaboard that will serve 50 million customers weekly and generate annual sales of more than $60 billion.

The merger announcement was highly anticipated following months of speculation followed by confirmation of talks between the companies. Now that the merger agreement has been reached, Ahold and Delhaize said they expect the deal to close by mid-2016.

The combined company, to be known as Ahold Delhaize will be led by Delhaize Group chairman Mats Jansson who become chairman of Ahold Delhaize. Jan Hommen, chairman of Royal Ahold, and Jacques de Vaucleroy, Delhaize Group director, will become vice chairmen of Ahold Delhaize. Dick Boer, CEO of Royal Ahold, will become CEO of the combined company. Frans Muller, CEO of Delhaize Group, will become deputy CEO and chief integration officer.

According to a statement by the companies, the new entity will accelerate innovation, bringing together both companies’ expertise to deliver increased value and choice for customers across its supermarket formats and online platforms.

The deal is also expected to yield annual savings of more than $500 million by the third year following completion of the merger.

Delhaize shareholders will receive 4.75 Ahold ordinary shares for each Delhaize ordinary share. Ahold shareholders will own c. 61% of the combined company's equity and Delhaize shareholders will own c. 39% of the combined company’s equity.

Despite being based in Europe, both companies generate about 60% of their sales in the U.S., primarily along the East Coast. Netherlands-based Ahold operates the Stop & Shop and Giant chains, as well as online grocery store Peapod, while Belgium’s Delhaize owns the Food Lion and Hannaford banners.

Click here for industry comments on the merger.

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News

Ahold/Delhaize deal done to create 6,500 unit grocer

BY CSA STAFF

The combination of Royal Ahold and Delhaize Groupe creates a new super-regional chain along the Eastern Seaboard that will serve 50 million customers weekly and generate annual sales of more than $60 billion.

The merger announcement was highly anticipated following months of speculation followed by confirmation of talks between the companies. Now that the merger agreement has been reached, Ahold and Delhaize said they expect the deal to close by mid-2016.

"This is a true merger of equals, combining two highly complementary businesses to create a world-leading food retailer," Jan Hommen and Mats Jansson, the chairmen of Ahold and Delhaize said.

The combined company, to be known as Ahold Delhaize will be led by Delhaize Group chairman Mats Jansson who become chairman of Ahold Delhaize. Jan Hommen, chairman of Royal Ahold, and Jacques de Vaucleroy, Delhaize Group director, will become vice chairmen of Ahold Delhaize. Dick Boer, CEO of Royal Ahold, will become CEO of the combined company. Frans Muller, CEO of Delhaize Group, will become deputy CEO and chief integration officer.

According to a statement by the companies, the new entity will accelerate innovation, bringing together both companies’ expertise to deliver increased value and choice for customers across its supermarket formats and online platforms.

The deal is also expected to yield annual savings of more than $500 million by the third year following completion of the merger.

Delhaize shareholders will receive 4.75 Ahold ordinary shares for each Delhaize ordinary share. Ahold shareholders will own c. 61% of the combined company's equity and Delhaize shareholders will own c. 39% of the combined company’s equity.

The merger requires shareholder and regulatory approval. The boards of both companies have unanimously recommended that shareholders support the deal. The companies first announced they were in preliminary talks to merge in May.

Despite being based in Europe, both companies generate about 60% of their sales in the U.S., primarily along the East Coast. Netherlands-based Ahold operates the Stop & Shop and Giant chains, as well as online grocery store Peapod, while Belgium’s Delhaize owns the Food Lion and Hannaford banners.

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