The iconic Delhaize lion is now wearing the Ahold crown, following the $29 billion merger of the two food retailing giants that was approved by the United States Federal Trade Commission (FTC) on July 24.
“This marks the start of an important new chapter and a unique opportunity to deliver even more for customers and communities, associates and shareholders,” stated Ahold Delhaize CEO Dick Boer. “Building on common values, complementary operations and proud legacies of success, we move forward with leading positions particularly on the United States East Coast and in Europe. Our strong e-commerce businesses and 22 great, local brands each share a passion for delivering great food, value and innovation for customers, and for making a difference in their local communities.”
The Ahold Delhaize combination in the USA boasts approximately 2,000 stores operating under the Stop & Shop, Giant, Martin’s Food Markets, Hannaford, Food Lion and bfresh marquees, as well as the Peapod e-commerce banner. Earlier this month the company agreed to sell 86 stores to comply with FTC antitrust requirements.
Headquartered in Zaandam, the Netherlands, Ahold Delhaize was created following the announced merger of Ahold and Delhaize in June of 2015. With roots dating back nearly 150 years, the group serves over 50 million customers a week in the United States and Europe. It operates more than 6,500 stores and employs approximately 375,000 people.
Ahold Delhaize shares are now listed on Euronext Amsterdam and Euronext Brussels under the ticker symbol AD. Ahold Delhaize American Depositary Receipts (ADRs) are trading over-the-counter in the United States and are quoted on the OTCQX International marketplace.
On August 25, Ahold Delhaize will present the second quarter and first half 2016 results of Ahold and Delhaize as standalone companies, as the merger was completed after the end of their respective reporting periods.
The first combined results of the merged entities will be presented for the third quarter of 2016 on November 17. Pro-forma historical quarterly segment data will be published on October 6, providing a comparable base. Starting from the third quarter of 2016, Ahold Delhaize will report quarterly financial performances of five business segments: the Netherlands, Belgium, Central and Southeastern Europe and two reporting entities in the United States.