ADRNY Koninklijke Ahold Delhaize NV (QX)

By Anthony O. Goriainoff

Koninklijke Ahold Delhaize NV said Tuesday that its Benelux online retailer bol.com has agreed to a strategic alliance with Dutch delivery company Cycloon whereby bol.com will acquire a majority stake in Cycloon.

The Dutch grocer said the transaction is expected to complete in the first half of 2022 and is subject to advice from the relevant works councils as well as the customary approvals.

The company said bol.com will acquire the remaining shares in Cycloon four years after the transaction, and that it will continue to exist as an independent brand.

"Moving towards a sustainable and socially responsible last mile is crucial for the future of e-commerce and we will continue to work with all our delivery partners to make this happen. With a majority stake in Cycloon, we are taking another step towards our stated ambition of reducing our direct footprint to 0 grams of CO2 emissions per package by 2025," the company said.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

December 21, 2021 04:11 ET (09:11 GMT)

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