Ahold Delhaize to buy online grocer FreshDirect
Global food retailer to hold majority stake in deal with Centerbridge Partners
Russell Redman, Supermarket News
Nov 19, 2020
Ahold Delhaize plans to acquire online grocery pioneer FreshDirect in tandem with private equity firm Centerbridge Partners.
Under the deal, announced late yesterday, Zaandam, Netherlands-based Ahold Delhaize will be FreshDirect’s majority owner, with Centerbridge holding a 20% stake. Financial terms of the agreement weren’t disclosed.
Plans call for FreshDirect to keep its brand name and operate independently out of its 400,000-square-foot automated fulfillment center and campus in the New York City borough of the Bronx. The online grocer will report to a seven-person board.
“FreshDirect is a leading local brand in the fast-growing online grocery sector in the New York City metro area, one of the most important e-commerce food markets in the United States. With its unparalleled quality of fresh food, exceptional brand recognition and dedicated people, it has generated remarkable customer loyalty. This acquisition further propels our omnichannel evolution. It is a great addition and fit for our portfolio of leading local brands,” Ahold Delhaize CEO Frans Muller said in a statement.
“The deal allows us to reach additional customers in the New York trade area and, therefore, will add incremental sales to the business,” he explained...