NETHERLANDS: Ahold Forms Partnership With US Internet Grocer Peapod
Royal Ahold, the international food provider and Peapod, Inc. today jointly announced that they have entered into definitive agreements creating a mutually-beneficial partnership. Under the agreements, Peapod will continue as a stand-alone company. Ahold will supply Peapod with goods, services and fast pick fulfillment centers. Ahold will initially invest approximately USD 73 million in a newly issued series of convertible preferred Peapod stock at a price of $3.75 per share, representing on a converted basis, 51% of Peapod's outstanding common stock.
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