A Recent Direct employee in protecting face masks and gloves handles deliveries on Could 21, 2020 in New York Metropolis.
Rob Kim | Getty Photos
The web grocer FreshDirect agreed on Wednesday to be acquired by the grocery store operator Ahold Delhaize and personal fairness agency Centerbridge Companions, because the coronavirus pandemic and rising acceptance of e-commerce immediate extra shoppers to purchase groceries on-line.
Ahold will take a majority stake and Centerbridge will personal 20% of FreshDirect, which can maintain its title and function independently. Phrases of the transaction weren’t disclosed, and a closing is anticipated within the first quarter of 2021.
Primarily based within the Bronx, New York Metropolis, and recognized for its green-and-orange vans, FreshDirect makes a speciality of recent meals, which it says represents greater than 60% of gross sales.
The privately-held firm was based in 2002 and operates in seven U.S. states, together with the New York Metropolis and Philadelphia metropolitan areas, and Washington, D.C.
Ahold is predicated within the Netherlands and has a number of U.S. manufacturers, together with Cease & Store, Meals Lion, Large Meals and Hannaford.
A latest examine by e-commerce specialist Mercatus and the analysis agency Incisiv stated on-line purchases ought to account for 10.2% of this 12 months’s $1.04 trillion U.S. grocery market, triple the proportion in 2019.
The examine additionally stated on-line purchases could command 21.5% of a complete $1.16 trillion grocery market in 2025, near 60% above pre-pandemic estimates.
Bigger retailers, together with Amazon.com Inc and Walmart Inc, are additionally rising on-line gross sales of necessities similar to meals.
Goldman Sachs and the legislation agency Latham & Watkins suggested FreshDirect on the transaction. Financial institution of America and the legislation agency Kirkland & Ellis suggested Ahold, and the legislation agency Fried, Frank, Harris, Shriver & Jacobson suggested Centerbridge.