Dutch food retailer Koninklijke Ahold Delhaize NV said Jan. 4 its U.S. supermarket chain, Stop & Shop, agreed to buy New York-based rival King Kullen Grocery Co. Inc.
Financial terms of the deal were not disclosed. The transaction is expected to close in the first quarter of 2019, subject to customary closing conditions.
The acquisition is part of the company's continued expansion in Long Island, N.Y.
Under the agreement, Quincy, Mass.-based Stop & Shop will acquire 32 supermarkets from King Kullen, five Wild by Nature stores, and be allowed use of the company's corporate offices in Bethpage, N.Y.
As of Dec. 14, 2018, Stop & Shop operates approximately 400 stores in Massachusetts, Connecticut, Rhode Island, New York and New Jersey.