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Ahold to take full
ownership of e-trader Peapod
Ahold will acquire all outstanding shares in Peapod, America’s leading internet grocer. Its current ownership share is 58 per cent. Founded in Chicago in 1989, Peapod currently operates in five major metropolitan markets: Chicago, Boston, southern Connecticut, Washington, D.C. and Long Island, N.Y. The company generated 2000 sales of USD 93 million and first-quarter 2001 sales of USD 24.9 million. In addition to the United States, Ahold
has online shopping operations in The Netherlands, Sweden, Norway,
Argentina and Guatemala, with annualized sales of approximately Euro 250
million. The company says that it sees home delivery as a valuable
addition to the range of financial and other services offered throughout
Ahold’s store network. The Peapod expertise is being used in the U.S.
as well as throughout Ahold’s worldwide operation. |
