Stop & Shop, based in Quincy, Mass., is a subsidiary of Ahold Delhaize, a Dutch company that is expanding throughout the US. It would be the second acquistion of a local grocery chain by a European company in recent months. Lidl bought Best Market in November.
“This transaction underscores our commitment to further strengthen the positions of our great local brands in the U.S., both through organic growth and fill-in acquisitions,” said Ahold Delhaize CEO Frans Muller.
The acquisition is expected to close during the first quarter of 2019, subject to customary closing conditions. Financial terms of the deal were not disclosed.
King Kullen is known as “America’s First Supermarket.”