February 12, 2010, - Quincy, MA – Stop & Shop today announced that it will acquire five Shaw’s supermarket stores from SUPERVALU Inc. The stores being acquired by Stop & Shop are located in Darien, East Hampton, New Fairfield, Newington and Vernon, CT. The purchase price for the five stores was not disclosed.
The purchase includes inventory, equipment and lease agreements. Stop & Shop intends to interview all current Shaw’ associates at these stores and expects to offer employment to most of them.
The closing of the transaction is expected to take place in Spring 2010 and is subject to certain customary due diligence and other conditions.
About Stop & Shop:
The Stop & Shop Supermarket Company, LLC operates two divisions (New England and Metro New York) of Ahold USA. It employs more than 59,000 associates and operates stores throughout Massachusetts, Connecticut, Rhode Island, New Hampshire, New York, and New Jersey. The company is a member of the US Green Building Council and has been awarded LEED (EB) certifications for 50 of its existing stores. Stop & Shop has been recognized by the EPA for the superior energy management of its stores and is also a member of the EPA's Smart Way program.
About Ahold USA:
Ahold USA is part of Ahold, the Dutch-based international food retailing group that operates quality supermarkets in Europe and the United States. Ahold USA is comprised of four divisions operating more than 700 supermarkets in 11 states and the District of Columbia. These divisions are Stop & Shop Metro New York, Stop & Shop New England, Giant-Landover and Giant-Carlisle. In addition, Ahold USA operates Peapod, an online grocery shopping and delivery service.
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Cautionary Notice
This press release includes forward-looking statements, which do not refer to historical facts but refer to expectations based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those included in such statements. These forward-looking statements include, but are not limited to, statements as to the acquisition of stores, inventory, equipment and lease agreements and the hiring by Stop & Shop of Shaw's associates and the closing of the transaction. These forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results included in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond Stop & Shop’s ability to control or estimate precisely, such as the effect of general economic or political conditions, or increases or changes in competition, the success of the transaction or the plans and strategies of Stop & Shop or Koninklijke Ahold N.V. ("Ahold") - which is the indirect parent company of the Stop & Shop Supermarket Company - the benefits from and resources generated by the transaction or
these plans and strategies being less than or different from those anticipated, changes in the liquidity needs of Ahold, the actions of competitors and third parties and other factors discussed in Ahold's public filings. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Neither Stop & Shop nor Ahold assumes any obligation to update any public information or forward-looking statement in this release to reflect subsequent events or circumstances, except as may be required by applicable securities law. Outside the Netherlands, Koninklijke Ahold N.V. presents itself under the name of “Royal Ahold” or simply “Ahold”.
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