Ahold USA to acquire 25 Ukrop's Super Markets

AMSTERDAM, The Netherlands 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.

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.