Ahold Delhaize explores an IPO for online retailer Bol.com to fuel growth
Supermarket giant Ahold Delhaize said on Monday it is exploring a possible IPO for its online retail arm Bol.com
In an update for investors, the company said it would focus on an ‘intended sub-IPO bol.com and increased investments in digital and sustainability’.
‘The pandemic has accelerated the pace of change in the retail industry,’ chief executive Frans Muller said in the statement. ‘It has also changed consumer behavior permanently with people shopping more online, eating more at home and having a bigger interest in local and healthier food.’
The aim of the Bol.com IPO is to ‘fuel its tremendous growth potential and to provide further funding for Ahold Delhaize’, the company said. Bol.com is the Netherlands’ biggest online retailer.
The IPO is likely to entail a listing in Amsterdam in the second half of 2022. Ahold Delhaize will retain significant control over Bol.com in the long term to ensure its growth and development.
Last year, Bol.com benefited in particular from the lockdown, with year on year sales rising 70% in the final quarter of the year. In total, Bol.com turnover hit €4.3bn, compared with a target of €3.5bn.
This year, the Dutch online retailer is targeting sales of €5bn.
Ahold bought Bol.com from Cyrte Investments and NPM Capital for €350m in 2012.
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