Over the weekend the buy-side industry has gotten a tad more competitive, as Belgium supermarket chain Delhaize and the Dutch Ahold has combined to form one retail company; Ahold Delhaize.
"Today is the start of an important new chapter and a unique opportunity to deliver even more for customers and communities, associates and shareholders,” stated Dick Boer, Ahold Delhaize CEO. “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."
Ahold Delhaize has debuted a new logo, combining the Delhaize lion with the Ahold crown, as part of its new brand. The company’s new website is also live, and features a new video on the completed video, viewable below.
Yahoo Finance UK reported that this merger makes the newest retail entity a leader in the supermarket and e-commerce realms, with 6,500 stores in 11 countries, and an estimated combined sales worth €50 billion a year (or roughly $54 billion) two thirds of which comes from the U.S. market.
“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,” finished Boer. “I want to thank associates for their dedication and focus and for the great work that has positioned Ahold Delhaize to move ahead with significant momentum."
Ahold Delhaize completed the merger on July 24, with Ahold’s Chief Executive, Dick Boer, serving as its new CEO. Franz Muller, Delhaize’s CEO, was appointed as the company’s Deputy Chairman and Chief Integration Officer.
The company has already debuted on the Amsterdam and Brussels stock exchanges under the ticker symbol AD, according to Dutch News. On Euronext Amsterdam, the company rose 1% to €21.93 in early trading.
Ahold Delhaize’s first financial reporting after the merger will be released on November 17 for its 2016 Q3. The companies’ first half of the year, and Q2 report, will be reported individually as the merger was completed after the reporting period.
As Ahold Delhaize’s merger makes its way across seas to impact the U.S. market, Deli Market News will have the lastest on this notable announcement.