Giant-Carlisle, a division of Ahold USA, Carlisle, Pa., will expand its presence in Virginia with the $140 million acquisition of 25 Ukrop's Super Markets, a family-owned business based in Richmond, Va. The transaction includes the 25 stores, inventory, equipment, lease agreements and one new store location. Ukrop's associates will retail their positions. Giant-Carlisle operates more than 150 stores in Pennsylvania, Virginia, Maryland and West Virginia under the Giant and Martin's banners.
“This acquisition is part of Ahold's profitable growth strategy. Ukrop's is a great company with a strong heritage in an attractive market,” said John Richston, Ahold C.E.O. “We believe that Giant-Carlisle and Ukrop's will be a strong combination.”
The deal is expected to close in the first quarter of 2010.
Separate from the Ahold acquisition, Ukrop's sold its Joe's Market, Richmond, Va. to two former employees. David Taylor, director of merchandising for Ukrop's and Buster Wright, Ukrop's senior director of packaged goods, will take control of the store in February and change the name to Libbie Market. Taylor was a 37-year veteran of the company, and Wright had worked for Ukrop's for six years. Named after the founder of the Ukrop's chain, Joe's Market opened in 2001.