lindley (1)

Business Insider

Lindley Estes is a business writer for The Free Lance-Star and This blog is on Fredericksburg-area business. Send an e-mail to Lindley Estes.

RSS feed of this blog

It’s official: Ahold is buying Ukrop’s for $140 million

I just got a pair of press releases from Ahold confirming that the Holland-based Giant Foods parent is buying Ukrop’s Super Markets. Ukrop’s is holding a press conference in Richmond as I type. Reporter Chelyen Davis is there. Part of the press release is below, and check back for more:

Ahold’s Giant-Carlisle Division agrees to acquire Ukrop’s stores

Amsterdam, the Netherlands – Ahold today announced that Giant-Carlisle, a Division of Ahold USA, will expand its presence in Virginia by acquiring 25 stores from Ukrop’s Super Markets, Inc. Ukrop’s is a family-owned business based in Richmond, Virginia. The transaction includes 25 stores, inventory, equipment, lease agreements and one new store location. Furthermore, Giant-Carlisle will hire Ukrop’s store associates. The purchase price is approximately $140 million.

John Rishton, CEO of Ahold, said, “This acquisition is part of Ahold’s profitable growth strategy. 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 and is subject to customary conditions.

Post tags: