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BUSINESS
June 18, 1998
Royal Ahold NV, the international food retailer that is buying Giant Food Inc. for $2.7 billion, said yesterday that it is extending by a month its tender offer for all of the Landover company's outstanding Class A nonvoting stock at $43.50 a share.The offer, announced last month, was to have expired yesterday at midnight. It now will run through 5 p.m. July 15, Ahold said.As of yesterday, Netherlands-based Ahold had secured 32.9 million Class A, nonvoting shares out of a total of about 59.9 million shares, according to the Bank of New York, depository for the offer.
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BUSINESS
By Lorraine Mirabella, The Baltimore Sun | December 9, 2013
A merger of the top two U.S. food distributors, Sysco and US Foods, could mean cutbacks at facilities in Severn and Jessup that employ hundreds of workers and sit fewer than 10 miles apart as a combined company consolidates operations across the United States. Sysco Corp. announced Monday that it plans to buy US Foods Inc., based in Columbia until a 2007 buyout, for about $3.5 billion in a deal that will create a company commanding at least a quarter of the $235 billion North American market.
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BUSINESS
By JAY HANCOCK | May 24, 1998
THE PASSPORT to the Giant Food kingdom is not the $2.6 billion Royal Ahold NV will pay for the supermarket company's Class A stock. It's not even the $100 million Ahold needs to buy other shares controlling four of nine Giant directors seats.The Giant passkey is a white, signed document sandwiched in a locked file drawer in Landover. The certificate, held lovingly and tightly for two decades by Israel Cohen, holds the power of five Giant directors seats.That's a board majority. Rule of the ranch.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | September 9, 2013
Giant Food's president, Anthony Hucker, will resign effective Friday after two years at the helm of the Baltimore area's biggest supermarket chain, Ahold USA announced Monday. The company, the parent of Landover-based Giant, said Hucker is stepping down "for another opportunity. " Bhavdeep Singh, executive vice president of operations for Ahold USA, will oversee Giant on an interim basis. Giant runs 169 supermarkets in Maryland, Virginia, Delaware and Washington. During his time leading the division, Hucker oversaw construction of several new stores; negotiated on behalf of the company to reach agreement on a new contract for unionized cashiers, meat cutters and produce and deli workers and advocated for store food drives to benefit the Maryland Food Bank.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | May 29, 1998
Royal Ahold NV, the international supermarket conglomerate buying Landover-based Giant Food Inc., filed with the U.S. Securities and Exchange Commission yesterday to sell up to $3 billion of debt securities and stock to raise capital for the deal.The Netherlands' biggest retailer, which already owns four grocery chains on the U.S. East Coast, announced plans last week to buy the Baltimore-Washington region's dominant supermarket chain for $43.50 a share -- about $2.7 billion -- in cash.The acquisition will bridge a geographic gap in chain ownership for Ahold, making it the fifth largest U.S. supermarket operator.
BUSINESS
By Jay Hancock | March 12, 2003
LEDGER, LEDGER on the desk. Which Ahold books are most grotesque? U.S. Foodservice boss James Miller seems to think there's something rotten in Zaandam. In a letter to customers last week, Miller said the resignations of two top Royal Ahold NV executives "had nothing to do with our company" and were "the result of events that occurred outside the United States." A huge seller of edibles to restaurants, schools and prisons, U.S. Foodservice has been owned by grocery mammoth Ahold since 2000 and was the source of $500 million in "overstated" Ahold earnings, mostly for last year.
BUSINESS
By BLOOMBERG NEWS | October 15, 2004
AMSTERDAM, Netherlands - The former chief executive officer and former chief financial officer of Royal Ahold NV, the Dutch food retailer that inflated profit for three years, were charged with fraud yesterday in a court here. Former CEO Cees van der Hoeven and Michiel Meurs, one-time finance chief, were charged after a judge rejected their objections to the criminal case, said Anthony Jagroop, a spokesman for the prosecutor. Former board members Jan Andreae and Ronald Fahlin also were charged, Jagroop said.
BUSINESS
September 17, 1998
Federal regulators have approved plans by Royal Ahold NV to sell four Martin's Food Market stores as a condition of its proposed acquisition of Giant Food Inc. of Landover, an official of another Ahold-owned chain said yesterday.The sales are apparently a victory for the United Food & Commercial Workers International Union, which fought to prevent the sales of Giant stores as part of the $2.7 billion merger. The union represents workers at Giant but not Martin's.Mark Cosby, vice president of advertising for Ahold subsidiary Giant Food Stores Inc. of Carlisle, Pa., said the Federal Trade Commission had approved sales of two Martin's supermarkets in Frederick as well as stores in Bel Air and Westminster.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,Sun reporter | June 28, 2007
The parent of Columbia-based U.S. Foodservice said yesterday that the sale of the food distributor remains on track despite the failure of a bond sale intended to help finance the deal. Dutch food company Royal Ahold, which also owns Giant Food, agreed in May to a $7.1 billion deal to sell U.S. Foodservice to private equity firms Clayton, Dubilier & Rice and Kohlberg Kravis Roberts & Co. On Tuesday, U.S. Foodservice postponed plans to sell $650 million in senior notes because of weak market conditions, an Ahold spokeswoman confirmed yesterday.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN REPORTER | September 30, 2006
Federal prosecutors will not pursue a criminal case against Dutch food conglomerate Royal Ahold NV related to a 2000 accounting scandal at its U.S. Foodservice division in Columbia. U.S. Foodservice overstated income by about $800 million from 2000 to 2003. Ahold's market value plunged two-thirds after the accounting fraud was uncovered. U.S. Foodservice, the nation's No. 2 distributor to restaurants and other food-service establishments, recorded false promotional allowances that inaccurately reduced its cost of sales and inflated its earnings.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN REPORTER | July 11, 2008
Giant Food has spent the past couple of years quietly renovating stores and lowering prices in an effort to win back customers it has lost to new competitors with fancier stores and food options. Now the area's largest grocery chain is bringing in a new president and chief executive officer with expertise in marketing, sales and branding to help make sure the shopping public knows about the changes. Royal Ahold NV, the Dutch food company that owns Giant, said yesterday that it had picked Carl Schlicker, the head of its Giant/Carlisle chain headquartered in Pennsylvania, to run the Landover-based Giant Food.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,Sun reporter | December 19, 2007
Dutch food conglomerate Royal Ahold NV has settled the final major case involving its former Columbia-based U.S. Foodservice division. Under the settlement announced yesterday, James L. Miller, the former U.S. Foodservice chief executive, will pay the company $8 million for bonuses and salary he earned during an accounting scandal that surfaced four years ago. Miller did not admit liability under the settlement. Ahold also agreed to pay Miller more than $4.6 million in retirement and health benefits as part of the agreement, said his attorney, Benjamin Rosenberg of Rosenberg, Martin, Funk & Greenberg LLP. Miller, 59, founded and ran U.S. Foodservice for 14 years.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN REPORTER | November 22, 2007
Giant Food's price-cutting strategy is slowly helping to attract shoppers faced with a growing array of grocery choices, and the program would be expanded by the end of the year, the chain's parent company said yesterday. But the results haven't shown up yet in net income or same-store sales, partly because product prices have been cut and because Giant has not yet embarked on a planned remodeling or replacement of 100 stores, said executives of Royal Ahold NV, Giant's Dutch owner. Giant, the dominant chain in the Baltimore-Washington region, is ahead of schedule in reducing prices across three-quarters of its merchandise and getting positive feedback from customers based on information tracked by customer loyalty cards.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN REPORTER | August 31, 2007
Dutch grocery company Royal Ahold NV said yesterday that it will delist its shares from the New York Stock Exchange and remove its registration from the U.S. Securities and Exchange Commission, significantly paring down its relationship with the American regulatory market. The company, which owns the area's largest grocery chain, Giant Food, said it decided to delist to reduce costs by eliminating some of the complexities of reporting to different regulatory agencies. The benefits of maintaining a U.S. registration and a NYSE listing have declined over time, the company said.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,Sun reporter | June 28, 2007
The parent of Columbia-based U.S. Foodservice said yesterday that the sale of the food distributor remains on track despite the failure of a bond sale intended to help finance the deal. Dutch food company Royal Ahold, which also owns Giant Food, agreed in May to a $7.1 billion deal to sell U.S. Foodservice to private equity firms Clayton, Dubilier & Rice and Kohlberg Kravis Roberts & Co. On Tuesday, U.S. Foodservice postponed plans to sell $650 million in senior notes because of weak market conditions, an Ahold spokeswoman confirmed yesterday.
BUSINESS
By Bloomberg News | May 8, 2007
AMSTERDAM, Netherlands -- Royal Ahold NV Chief Executive Officer Anders C. Moberg said yesterday that the Dutch owner of Giant Food aims to remain independent and hasn't received any offers for its U.S. retail business. The Swedish-born executive, 57, said unexpectedly last month that he would resign, sparking speculation that his successor might merge the company with Belgium's Delhaize Group. Moberg said yesterday that he will become head of Majid Al Futtaim Group, a Dubai-based shopping mall developer.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | July 8, 2003
Dutch prosecutors raided the corporate offices of Royal Ahold NV in the Netherlands over the weekend, removing boxes of documents in a widening criminal probe into false accounting at the world's third-largest food retailer. A spokeswoman for Ahold, the owner of Giant Food Inc. and five other U.S. supermarket chains, said yesterday that the company, based in Zaandam, Netherlands, is cooperating with investigators. "They did a search in our headquarters, and they took documents," said Carina Hamaker, a spokeswoman, who said she could not comment further.
NEWS
By Andrea K. Walker and Andrea K. Walker,Sun reporter | November 7, 2006
Dutch food company Royal Ahold NV said yesterday that it will sell Columbia-based U.S. Foodservice, the nation's second-largest food wholesaler, as part of a major restructuring but will keep the struggling Giant Food grocery chain and try to revive it with an "everyday low price" strategy. Giant will have fewer sales, carry more private-label merchandise and limit its assortment, extending an experiment that began in its produce departments in September. Ahold also said it will improve the freshness of its foods and develop "easy-to-stock store formats that will enhance the overall customer experience in our stores, making shopping more convenient."
BUSINESS
By Andrea K. Walker and Andrea K. Walker,Sun reporter | May 3, 2007
Dutch food conglomerate Royal Ahold NV said yesterday that it has signed a $7.2 billion deal with two private equity firms that would end its seven-year stewardship of U.S. Foodservice, the Columbia food distributor that nearly bankrupted Ahold with a nearly $1 billion accounting scandal. Analysts said the sale could open the way for Ahold to sell its U.S. supermarket chains, including Giant Food of Landover.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,Sun reporter | April 28, 2007
In a surprise announcement, Royal Ahold NV said yesterday that its chief executive officer - brought in four years ago to turn around the company after a nearly $1 billion accounting scandal at Columbia food distributor U.S. Foodservice - is stepping down a year before his contract was to expire. The Dutch food company, which also owns Giant Food, said that Anders Moberg would leave July 1 to "pursue other business interests." Moberg consulted with the board, which agreed it was time for a change in leadership, according to a statement released by the company yesterday.
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