By Ian Walker

 

Koninklijke Ahold NV (AH.AE), a Dutch grocer, said Tuesday it is well on track to achieve its goal of 2.5 billion euros ($2.84 billion) in online consumer sales in 2017, up from EUR1.8 billion in 2015.

The 129-year-old company added that its $29 billion merger with Delhaize Group (DELB.BT) is on schedule to be finalized mid-2016, when the combined business would start trading.

The companies unveiled their planned merger last June in an all-share deal that would create one of the largest supermarket operators in the U.S. The move comes as the grocers are seeking to increase scale in the face of slow growth and fierce competition from discounters.

The combined company will make around two-thirds of its sales on the U.S. East Coast, where Ahold operates the Giant and Stop & Shop chains and Delhaize owns Food Lion and Hannaford.

The new company will be named Ahold Delhaize and will be based in the Netherlands.

 

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

 

(END) Dow Jones Newswires

April 19, 2016 09:30 ET (13:30 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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