Royal Ahold (NYSE: AHO), the international food provider, today announced it has become 100% owner of the TOPS supermarkets in Malaysia. Ahold already owned over 65% of the joint venture company RA-PPB (TOPS) Retail Sdn Bhd in Malaysia, the sole owner of the supermarkets. Its local partner, PPB Group Bhd, has held the other shares since 1996 when the company was established.
Ahold operates 39 TOPS supermarkets in Malaysia and new sites are targeted. Ahold’s 1999 sales in Malaysia amounted to Euro 90 million. The company employs nearly 2,000 people in the country.
Royal Ahold operates approximately 8,200 supermarkets, hypermarkets and other store formats in the United States, Europe, Latin America and Asia with annualized sales approaching Euro 50 billion. The company is also developing significant experience in the foodservice industry and as an e-commerce player. Ahold employs 400,000 associates and serves the food needs of over 30 million loyal customers in 25 countries every week. Ahold’s website can be found at www.ahold.com.
In addition to its listing on the New York Stock Exchange (NYSE: AHO), Ahold’s shares are trading on the Amsterdam Exchanges and on the Swiss Exchange. Additional information is available on Ahold’s website: http://www.ahold.com.
Royal Ahold press releases may contain `forward-looking’ statements. Actual results may differ from such statements as they may have been influenced by factors beyond the company’s ability to control.