Ahold Selling Two Supermarket Chains
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NEW YORK -- International supermarket retailer Royal Ahold said Thursday it will sell two of its US chains, BI-LO and Bruno&#39;s, to Lone Star Funds for $660 million.
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US Foodservice, the American unit of the Dutch supermarket Royal Ahold, has postponed its sale of $650 million in bonds that were expected to finance the unitâs equity buyout.
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One natural foods supermarket will acquire another for $565 million.
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Dutch food retailer Royal Ahold NV said income from its U.S. retail operations plunged 30 percent in the second quarter, blaming sluggish performance at Giant Food and Stop & Shop Stores, its two biggest American chains.
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Whole Foods, the world's largest natural and organic grocery chain is buying smaller rival, Wild Oats for $565m (Â£288.8m).
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So far, supermarket chains have pumped $2.8 million into their campaign for more licenses to sell wine, while package stores, liquor wholesalers, and beer distributors have raised $857,000 to defeat the plan at the polls in November.
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William Morrison, the fourth largest grocery chain, said it had agreed to sell 114 stores to rival Somerfield for 260 million pounds.
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Dutch food retailer Ahold and three former top executives have agreed to settle fraud charges related to $1bn overstatement of profits.
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Lately, the company's retail operation has been lagging behind sales of its locations.
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Retail entrepreneur Tom Hunter and Icelandic retail group Baugur sell their 21% stake in UK department store group House of Fraser.
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OCADO, an online grocery retailer based in southeast England, may be about to instigate a new round of supermarket wars with the help of two digital phone switches it snapped up on the cheap from collapsed ...
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Royal Ahold NV, owner of the Giant and Stop &amp; Shop supermarkets in the US, is ``confident&#39;&#39; the company can reach its goal of raising 2.5 billion euros ($3.
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Ahold has agreed to sell its Bruno's and BI-LO shop units in the United States to Lone Star Funds for $660 million, the Dutch retailer said yesterday.
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The foods division of retailer La Rinascente SpA is being sold to French supermarket retailer Auchan SA in a deal worth 1.06 billion euros (&#36;1.36 billion).
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Two closed Kmart stores in the Tampa Bay area are among 50 nationwide acquired by Sears, Roebuck and Co. in a $576-million deal announced Wednesday.
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Ahold, the world's third biggest retail group, announced a rise in net profits but also a sharp drop in second quarter operating income as improved results in Europe and food services were unable to offset tough market conditions in the United States.
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Ahold, the Dutch super-market group, took another step along its &quot;road to recovery&quot; on Thursday after the sale of two retail subsidiaries for $660m to a private US equity group.