US online fresh food grocer FreshDirect has announced that it closed its sale to global grocery giant Ahold Delhaize and investment firm Centerbridge Partners.
The deal to buy the New York-based brand was first announced on 18 November, with Ahold Delhaize acquiring a majority share, funded by cash on hand, with Centerbridge Partners becoming a minority equity investor with a 20% stake.
The deal was confirmed today after receiving regulatory clearance from the US Federal Trade Commission.
After the acquisition, FreshDirect will operate as an independent unit and continue to operate out of its bespoke facility in New York City.
David McInerney, FreshDirect’s CEO said: “This transaction marks an important milestone in the continued growth of FreshDirect. I believe Ahold Delhaize’s global scale, focus on strong, leading local brands, and ability to utilize cost-of-goods synergies, will allow FreshDirect to achieve its full potential.”
“I am very proud of and grateful for the FreshDirect team, thousands of employees who have worked tirelessly over the years to make our company a leader in the field, and so thankful to our loyal and devoted customers, many of whom have been with us since the beginning,” he said today.
Frans Muller, Ahold Delhaize’s CEO, said, “We are very pleased that we can now definitively welcome FreshDirect to our family of great local brands. 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 omni-channel evolution. We are looking forward to working with our new FreshDirect colleagues.”
Steve Silver, Senior Managing Director at Centerbridge Partners, said, “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 fulfilment in order to accelerate FreshDirect’s growth.”
FreshDirect was previously backed by private investors Brightwood Capital Advisors, Maverick Capital and W Capital Partners.