![]() Sengal Selassie, managing partner and chief investment officer at Brightwood, commented, “Brightwood has had strong conviction in FreshDirect’s growth potential since our initial investment in 2014 and is proud to have served as a long-term partner through multiple rounds of financing. “We are grateful to our investors for their unwavering support and guidance and their significant contributions to the company’s leadership position and success,” he said. With the closing of the FreshDirect sale, McInerney thanked company investors Brightwood Capital Advisors, Maverick Capital and W Capital Partners. The company was founded in 1999 by Joe Fedele, Jason Ackerman and current CEO David McInerney. “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 fulfillment in order for FreshDirect to grow further,” stated Steve Silver, senior managing director at Centerbridge Partners.Īn e-grocery pioneer, FreshDirect has provided online grocery shopping and delivery services, mainly in the metro New York area, for more than 20 years. retail grocery brands as it ramps up e-commerce services. Store pickup is an expansion focus across Ahold Delhaize's U.S. business reaches about 90% of households in its markets with home delivery and pickup and roughly 70% with same-day delivery, including Instacart. online sales surged 114.7% in the fiscal 2020 third quarter, and the company plans to grow online capacity by nearly 100% in 20, including doubling the number of pickup locations to about 1,400. The FreshDirect acquisition dovetails with Ahold Delhaize’s recent acceleration of its e-commerce expansion, fueled in part by more consumers buying groceries online during the coronavirus pandemic. Peapod Digital Labs supports online grocery and other digital services for the retail brands as well as drives omnichannel innovation. The entire FreshDirect team looks forward to working together with our new Ahold Delhaize colleagues.”įreshDirect joins the roster of grocery brands at Ahold Delhaize USA, which includes nearly 2,000 supermarkets on the East Coast under the banners Stop & Shop, Giant Food, Giant/Martin’s, Food Lion and Hannaford. “I am thankful to our loyal and devoted customers, many of whom have been with us since the beginning, and very proud of and grateful for the FreshDirect team, which has worked tirelessly over the years to make our company a leader in the field. Ahold Delhaize will build on FreshDirect’s success, ensuring the continued growth of our company, while creating synergy and maintaining the uniqueness of the brand,” McInerney (left) commented. “Today marks the beginning of an exciting new era for FreshDirect. Its key metropolitan markets include New York City, Philadelphia and the District of Columbia. Overall, FreshDirect delivers directly to customers in selected markets in seven states, including New York, New Jersey, Connecticut, Pennsylvania, Delaware, Maryland and Virginia. ![]() FreshDirect CEO David McInerney will continue to lead the e-grocer, which will report to a seven-person board. Related: Inside FreshDirect’s state-of-the-art campusįreshDirect retains its brand name and continues to operate independently from its 400,000-square-foot automated fulfillment center and campus in the New York City borough of the Bronx. We are looking forward to working with our new FreshDirect colleagues.” “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 omnichannel evolution. “We are very pleased that we can now definitively welcome FreshDirect to our family of great local brands,” Frans Muller, CEO of Zaandam, Netherlands-based Ahold Delhaize, said in a statement. New York-based Centerbridge holds a 20% stake in the online grocery retailer. Related: Ahold Delhaize to buy online grocer FreshDirectĪhold Delhaize, which holds a majority share in FreshDirect, said it’s funding the acquisition with cash on hand. Financial terms of the deal, announced in mid-November, weren’t disclosed. ![]() The companies said Tuesday they finalized the transaction after receiving regulatory approval from the Federal Trade Commission. Ahold Delhaize and private equity firm Centerbridge Partners have completed their purchase of pure-play online grocer FreshDirect.
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