Ukrop's sells some super markets
December 18, 2009
by Eric Schroeder
AMSTERDAM, THE NETHERLANDS — Giant-Carlisle, a division of Ahold USA, will expand its presence in Virginia by acquiring 25 stores from Ukrop’s Super Markets, Inc. for approximately $140 million. Ukrop’s is a family-owned business based in Richmond, Va.
Under terms of the transaction, Giant-Carlisle will acquire 25 stores, inventory, equipment, lease agreements and one new store location. In addition, Giant-Carlisle has agreed to hire Ukrop’s store associates.
“This acquisition is part of Ahold’s profitable growth strategy,” said John Rishton, chief executive officer of Ahold. “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 transaction is expected to close in the first quarter of 2010.