Business Acquisitions
Announced reorganization Albert Heijn
Stock options
00 Ahold ANNUAL REPORT 2002 203
BOARD GOVERNANCE HIGHLIGHTS OPERATING REVIEW FINANCIAL INVESTOR REL AT IONS
The transaction involves stores and two distribution centers, all of which are included in the retail trade segment. The
actual transfer of the stores and both distribution centers will take place following the approval of Hero shareholders.
Golden Gallon
In August 2003, Ahold announced it had reached agreement to sell Golden Gallon, its fuel and merchandise convenience
store operation in the retail trade segment in the southeastern U.S., to The Pantry, Inc. The sale of Golden Gallon was
completed in October 2003.
The assets to be sold include the Golden Gallon operations, working capital and all of the real estate.
Supermercados Stock - Paraguay
In September 2003, Ahold announced it has successfully completed the sale of its 100% interest in Supermercados
Stock S.A. to A.J. Vierci. Supermercados Stock S.A. operated 10 supermarkets at year-end 2002 and has been part of
Ahold's portfolio since 1998. At year-end 2002, the Company was a subsidiary of Santa Isabel S.A. in Chile and employed
approximately 800 employees.
The carrying amounts of the major classes of assets and liabilities held for sale subsequent to the balance sheet date, are
as follows:
December 29,2002
Condensed balance sheet data:
Non-current assets
Intangible assets
1
Tangible fixed assets
49
Current assets
Inventory
33
Trade accounts receivable
7
Cash
12
Other
6
Current liabilities
Loans payable
38
Accounts payable and accrued expenses
38
Other
1
Non-current liabilities
Provisions
2
Long-term debt
28
Shareholders' equity
1
La Despensa de Don Juan - El Salvador
On January 20, 2003, the El Salvadorian operations of La Fragua acquired the assets (excluding real estate) of
La Despensa de Don Juan in El Salvador. The assets consist of 31 stores and are located throughout the country.
In September 2003, management of Albert Heijn communicated that the plans have been finalized to restructure its head
office. Albert Heijn expects to terminate approximately 440 employees.
Effective in fiscal 2003, the ratio between the five and ten year options (see Note 11 for a discussion of these options)
has been set at 50% with a five year term and 50% with a ten year term. Also effective 2003, all share options granted
as of 2003 can only be exercised after a minimum three-year term.
