Ahold to sell two U.S. distribution facilities
An affiliate of Pennsylvania-based Preferred Real Estate Investments is buying the facilities in a combined real estate transaction.
24/01/06 Ahold has announced the sale of two distribution facilities in the United States belonging to its wholly-owned subsidiaries Stop & Shop and Giant-Landover. An affiliate of Pennsylvania-based Preferred Real Estate Investments is buying the facilities in a combined real estate transaction, the value of which amounts to approximately USD 90 million.
As announced in May 2005, Giant-Landover is selling its current Landover, Maryland distribution facility property and offices and expects to relocate its regional headquarters to a site in close proximity.
Stop & Shop intends to close its North Haven, Connecticut distribution facility by mid-2006 as part of steps to improve the efficiency of its New England distribution network and deliver improved customer value. The distribution of goods currently handled in that facility will be shifted to Stop & Shop’s distribution center in Freetown, Massachusetts and to a third-party supplier.
The North Haven closure will result in the loss of approximately 850 jobs, although staffing at the Freetown facility will increase to take on the additional work.
