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Ahold Delhaize completes Fresh Direct deal

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ZAANDAM, the Netherlands – Ahold Delhaize closed its acquisition of a majority stake in the New York City-based online grocer FreshDirect after the U.S. Federal Trade Commission okayed the deal.

Under the deal, announced on November 18, Ahold Delhaize acquires the majority share of Fresh Direct, and Centerbridge Partners is a minority equity investor with a 20% stake. The financial terms of the deal were not disclosed, but Ahold Delhaize said it funded its part with cash on hand.

As previously announced, FreshDirect will retain its brand name and continue to independently operate out of its facility in New York City.

“We are very pleased that we can now definitively welcome FreshDirect to our family of great local brands,” Ahold Delhaize chief executive officer Frans Muller said. “This leading local online brand with a large and loyal following will help us reach additional customers in the New York trade area and further propel our omnichannel evolution. We are looking forward to working with our new FreshDirect colleagues.”

FreshDirect CEO David McInerney said the deal “marks the beginning of an exciting new era” for his company.

“Ahold Delhaize will build on FreshDirect’s success, ensuring the continued growth of our company, while creating synergy and maintaining the uniqueness of the brand,” he said. “I am thankful to our loyal and devoted customers, many of whom have been with us since the beginning, and very proud of and grateful for the FreshDirect team, which has worked tirelessly over the years to make our company a leader in the field.  The entire FreshDirect team looks forward to working together with our new Ahold Delhaize colleagues.”

Centerbridge Partners senior managing partner Steve Silver also praised the deal.

“We are excited to start this new partnership with Ahold Delhaize, in which we can utilize our experience in the interplay between logistics facilities and e-commerce fulfillment in order for FreshDirect to grow further,” Silver said.