Ahold Delhaize: cancels acquisition of King Kullen
(CercleFinance.com) - Ahold Delhaize announced on Wednesday evening that its US retailer Stop & Shop has cancelled the agreement to acquire King Kullen, as the terms of the agreement could not be met.
In a statement, the Belgian/Dutch group highlighted "significant, unforeseen changes in the marketplace that have emerged since the agreement was signed in December 2018, largely driven by the COVID-19 pandemic".
In addition, the food retailer announced the appointment of Jan-Willem Dockheer as the new brand president for its subsidiary Delhaize Serbia, formally joining on 1 September in Belgrade.
Copyright (c) 2020 CercleFinance.com. All rights reserved.