Ahold expects the sale of its US Foodservice arm to go through as planned, the Dutch retail giant said today (28 June).
Ahold’s US business has postponed the financing due to back its US$7.1bn sale to private equity groups Clayton, Dubilier & Rice and KKR. The business was due to sell $650m in bonds to finance the buyout.
The decision to postpone is understood to be due to investors in the debt forcing US Foodservice to change the terms of the financing because of the amount of debt being assumed by the company.
Nevertheless, an Ahold spokesperson in Amsterdam told just-food that the company expects the sale to go ahead. “We don’t expect any consequences for the transaction,” the spokesperson said.
Ahold agreed to sell the US Foodservice business in May. At the time, it expected to close the deal in the second half of this year.
The sale came after a review of Ahold’s global operations after sustained pressure from investors to improve the company’s profitability.