Ahold Sells Dutch Drug Chain
ZAANDAM, The Netherlands - Ahold today announced it has reached an agreement to sell its De Tuinen drug chain to NBTY, Inc., a U.S.-based, publicly held company, for Euro 16 million in cash.
De Tuinen has been part of Ahold's Dutch health and beauty care division since 1991 and consists of 41 owned stores and 25 franchises. It offers a broad range of over-the-counter drugs, dietary supplements, gift items, and natural beauty care products. De Tuinen has now been definitely transferred to Holland & Barrett Europe, Ltd., a British subsidiary of NBTY, an international producer of dietary supplements with approximately 1,000 stores in the U.S., Great Britain, and Ireland.
De Tuinen will be gradually phased into NBTY, a process that will be completed by December 28. During this transition, Holland & Barrett will be permitted use of several Ahold facilities, as well as logistics and other back-office services. The transition will not be noticeable to customers. It includes all De Tuinen corporate stores and their inventory. Franchise stores will also conduct their business with Holland & Barrett, and all current employees are expected to keep their jobs. A new location for the De Tuinen head office and distribution center is being sought.
De Tuinen has been part of Ahold's Dutch health and beauty care division since 1991 and consists of 41 owned stores and 25 franchises. It offers a broad range of over-the-counter drugs, dietary supplements, gift items, and natural beauty care products. De Tuinen has now been definitely transferred to Holland & Barrett Europe, Ltd., a British subsidiary of NBTY, an international producer of dietary supplements with approximately 1,000 stores in the U.S., Great Britain, and Ireland.
De Tuinen will be gradually phased into NBTY, a process that will be completed by December 28. During this transition, Holland & Barrett will be permitted use of several Ahold facilities, as well as logistics and other back-office services. The transition will not be noticeable to customers. It includes all De Tuinen corporate stores and their inventory. Franchise stores will also conduct their business with Holland & Barrett, and all current employees are expected to keep their jobs. A new location for the De Tuinen head office and distribution center is being sought.