Stop & Shop par­ent OKs merger

Los Angeles Times - - BUSINESS BEAT -

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.

Mark Lennihan As­so­ci­ated Press

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.

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