ZAANDAM, The Netherlands, Oct. 17, 2003 (PRIMEZONE) -- Ahold (NYSE:AHO) (Other OTC:AHODF) today announced it has successfully completed the sale of Golden Gallon, its fuel and merchandise convenience store operation in the southeastern United States, to The Pantry, Inc. The transaction value amounts to approximately USD 187 million.
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. The divestment of Golden Gallon, originally announced on August 25, 2003, is part of Ahold's strategic plan to restructure its portfolio to focus on core food businesses.
Golden Gallon operated 138 convenience stores and has been part of Ahold's portfolio since 2000. The company employed approximately 1,100 employees.