Hannaford and Stop & Shop parent companies to merge
The parent companies of Hannaford Supermarkets and Stop & Shop announced Wednesday that they have reached a merger agreement.
Belgium-based Delhaize Group, the parent company of Hannaford Supermarkets, said it has reached an agreement to merge with Netherlands-based Ahold, which owns Stop & Shop.
The New York Times reported that the merger would result in one of the largest supermarket chains in the United States. The merged company, which is to be called Ahold Delhaize according to a release from the two companies, would have more than 6,500 stores and 375,000 employees in Europe and the United States.
“The proposed merger with Delhaize is an exciting opportunity to create an even stronger and more innovative retail leader for our customers, associates and shareholders worldwide. With extraordinary reach, diverse products and formats, and great people, we are bringing together two world-class organizations to deliver even more for the communities we serve,” Dick Boer, CEO of Ahold, said in a release.
Stop & Shop is the 13th largest company in Central Massachusetts with over 2,300 employees in the region. Hannaford is ranked 26th in the region with over 1,700 employees.
The merger, which is subject to regulatory and shareholder approval, is expected to close in the middle of next year, according to the companies. Under the agreement, Ahold shareholders would own 61 percent of the combined company with Delhaize shareholders owning the remaining 39 percent.
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