Ahold Delhaize: buys US online grocer FreshDirect
(CercleFinance.com) - Dutch-based supermarket group Ahold Delhaize said on Thursday that it has agreed to take a majority stake in FreshDirect, an online grocery delivery company based in New York City.
After the deal closes, FreshDirect - which focuses on fresh food largely provided by local farmers - will retain its brand name, and continue to independently operate out of its facility in New York City, Ahold said.
The financial terms of the deal were not disclosed, although the retailer said the acquisition has been paid for by "cash on hand."
As part of the deal, US private investment firm Centerbridge Partners will be a minority investor, with a 20% stake, the group added.
The transaction is expected to close in the first quarter of 2021.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
After the deal closes, FreshDirect - which focuses on fresh food largely provided by local farmers - will retain its brand name, and continue to independently operate out of its facility in New York City, Ahold said.
The financial terms of the deal were not disclosed, although the retailer said the acquisition has been paid for by "cash on hand."
As part of the deal, US private investment firm Centerbridge Partners will be a minority investor, with a 20% stake, the group added.
The transaction is expected to close in the first quarter of 2021.
Copyright (c) 2020 CercleFinance.com. All rights reserved.