Stop & Shop parent OKs merger
Dutch retailer Royal Ahold, which operates U. S. supermarket chains Stop & Shop and Giant, has agreed to merge with its Belgian counterpart Delhaize Group, in a deal that creates a $ 29- billion company serving more than 50 million customers a week.
The all- shares merger, which will lead to the formation of a single company called Ahold Delhaize with more than 6,500 stores, is expected to be completed in mid- 2016, subject to regulators’ and shareholder approval, the companies said.
Delhaize, which owns supermarkets throughout Belgium, also operates the Hannaford and Food Lion stores in the eastern United States. Besides its U. S. stores, Ahold owns the Albert Heijn chain of supermarkets, which has more than 850 stores in the Netherlands and 25 in Belgium.
STARTING Jan. 1, the average minimum hourly wage at Ikea’s U. S. stores will increase to $ 11.87, which is $ 4.62 above the current federal minimum wage.