Ahold to sell Malaysian business to Dairy Farm
Hong Kong operator takes on 34 store chain
May 2 2003
Ahold is to sell another batch of non-core supermarkets with the transfer of it Malaysian operations to Hong Kong based supermarket group Dairy Farm.
The deal involves 34 stores and one grocery distribution centre. Ahold’s Malaysian headquarters staff and assets are not included in the transaction, although Ahold said it “is committed to meeting its obligations” to employees.
The sale is part of the troubled Dutch supermarket giant’s strategic plan to focus on on its most mature and stable markets.
Dairy Farm is based in Hong Kong and owns a range of food retailers in Asian markets including Hong Kong, China, Taiwan, Korea, India, Singapore, Indonesia and Malaysia.
Ahold, which is working to recover after a financial crisis sparked by the discover of irregularities in it US Foodservice business earlier this year, is to nominate Anders Moberg as president and chief executive at its annual shareholder meeting later this year.
Moberg, who has held senior roles at Swedish retailer Ikea and Home Depot in the US, will take up the role acting CEO at hold from next week.
Henny de Ruiter, chairman of the Ahold Supervisory Board, said: “Anders Moberg has spent his entire career working for two of the world’s most successful retailers. Strongly focused on customers’ needs and product innovation, he is a true internationalist, decidedly exceptional in his ability to put retail into a global context. We are delighted that he will join Ahold.”
Moberg, said: “Having had the opportunity to meet with many people from the Ahold group of companies, I am convinced that if we all work together we can bring Ahold back on track again.”
