Delhaize, Ahold Announce Merger Deal

Retailers Delhaize Group and Koninklijke Ahold announced their agreement to merge. To be named Ahold Delhaize, the combined company will have a total workforce of 375,000 associates serving more than 50 million customers each week in Europe and the United States. Expected to create run-rate synergies of €500 million yearly, the deal will create significant value for the parties involved. Combined, the companies earned €54.1 billion in net sales, with adjusted EBITDA of €3.5 billion, net income from continued operations of €1.0 billion, and free cash flow of €1.8 billion in 2014.