Local Business Digest: Royal Ahold buys Ukrop's stores
MERGERS & ACQUISITIONS
Royal Ahold buys Ukrop's stores
Royal Ahold, the Dutch conglomerate that owns Giant Food, announced Thursday that it is purchasing the Richmond-based supermarket chain Ukrop's Super Markets for $140 million.
The deal, which encompasses all inventory, equipment and leases agreements, will close in the first quarter of next year. Ahold spokesman Jochem van de Laarschot said the company plans to retain Ukrop's more than 5,000 employees.
Ukrop's was founded in 1937 and has remained privately held.
Two Ukrop's stores are not included in the deal, and van de Laarschot said Ahold is offering those employees positions at other locations. It was still undecided whether the acquired stores would keep the Ukrop's name. A Ukrop's spokeswoman did not respond to requests for comment.
-- Ylan Q. Mui
Senators concerned over Lockheed F-35
Top lawmakers on the Senate committee that authorizes defense spending said they are "deeply concerned" about projected additional costs and delays in development of Bethesda-based Lockheed Martin's F-35 jet.
Senate Armed Services Committee Chairman Carl M. Levin (D-Mich.) and the panel's ranking Republican, Sen. John McCain (Ariz.), registered their concern in a statement issued after a closed briefing yesterday by senior Pentagon cost analysts and the military's manager of the $298 billion program.
"I came out of the briefing with serious concerns," McCain said. "There's already been significant cost overruns. It's hard for me to believe that all of that has come to a halt."