Ahold-owned Stop & Shop has acquired three stores from King Kullen in the US in a bid to expand its presence in the country.
The stores, located on Staten Island, New York, will add to the two stores Stop & Shop currently operates on the island, the Dutch retail chain said yesterday (1 December).
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Stop & Shop said it plans to open the Richmond Avenue and Amboy Road stores once the sale is completed, which is subject to customary conditions. The second Richmond Avenue store will be closed, the retailer said. Details on a potential conversion are expected to be revealed on completion of the acquisition.
“Stop & Shop is looking forward to expanding our presence on Staten Island,” said Don Sussman, division president of Stop & Shop’s NY Metro division.
The retailer added that, while the second Richmond Avenue store will close in early January, “substantially all” staff will be interviewed for other positions within the company.
Last month, Ahold unveiled plans to “accelerate growth” across the business, including moves to boost online sales and expand its convenience store network.
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By GlobalDataThe company, which has stores in markets including the Netherlands and the US, set out ambitions to triple online sales to EUR1.5bn (US$2.12bn), open at least 150 convenience outlets in Europe and expand its private-label revenues in the US.
