Embattled Dutch retail group Ahold has announced that it has successfully completed the sale of Golden Gallon, its fuel and merchandise convenience store operation in the southeastern United States, to The Pantry for around US$187m.
Ahold said the divestment of Golden Gallon, originally announced on 25 August, is part of the company’s strategic plan to restructure its portfolio to focus on core food businesses.
Golden Gallon operates 138 convenience stores and has been part of Ahold’s portfolio since 2000. The company employs approximately 1,100 employees.
The Pantry is the leading convenience store operator in the southeastern United States and the third-largest independently operated convenience store chain in the country.