Ahold’s Giant-Carlisle Division Agrees to Acquire Ukrop’s Stores

“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."

23 Dec 2009 --- Ahold 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.