Ahold to sell US c-stores
New York-based brands on the market
January 20 2004
Ahold has put its chain of 204 US convenience stores on the market as the troubled supermarket giant continues to pare down its operations.
Ahold’s US subsidiary Tops Markets plans to sell Ahold’s remaining c-store operation in the US, which includes 127 Wilson Farms Neighborhood Food Stores, 67 Sugarcreek Stores and 10 Tops Xpress stores.
Ahold, rocked by a financial crisis over the past year, said the sale fit into its plan to focus on core operations.
There is no time frame for the disposal, with Ahold being advised by bankers William Blair, based in Chicago.
The stores are all in the New York area. Wilson Farms has been owned by Tops Markets since 1969, while the Sugarcreek stores, all including gas stations and situated along major highways and in rural areas, were acquired by Tops in 2000. Tops Xpress, which include some rebranded Wilson Farms outlets, also sells gasoline.
Together, the stores have almost 2,100 employees.
