The merger of two giant grocery chains has notched one step closer to completion, a little over a year after the deal was first announced.
Ahold, the Dutch parent company of such retail brands as Stop & Shop, will be buying Belgium-based Delhaize, the operator of such U.S. chains as Hannaford and Food Lion.
As of this week, Ahold’s shareholders have overwhelmingly approved the merger deal Monday.
“We deeply appreciate the overwhelming support of our shareholders, as well as their confidence in the future of Ahold Delhaize,” said Ahold Chairman Jan Hommen. “This is a critical milestone in the completion of our proposed merger, which will create an even stronger international food retailer for all stakeholders.”
Along with the money, Ahold’s shareholders have also approved the appointment of the board that will manage the combined firms — and the Supervisory Board. Those board appointments will take effect once the merger has finalized.
The footprint of the combined firms will be impressive, with more than 375,000 associates working in 6,500 stores spread across the U.S. and Europe.
The merger is set to finish by the middle of this year.
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