00 Ahold ANNUAL REPORT 2002 117
BOARD GOVERNANCE HIGHLIGHTS OPERATING REVIEW FINANCIAL INVESTOR REL AT IONS
The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of the USF
acquisition.
At April 12, 2000
Goodwill
Tangible fixed assets
Financial assets
Current assets
3,010
932
Total assets acquired
4,708
Provisions
Non-current liabilities
Current liabilities
914
843
Total liabilities assumed
2,002
Consideration
2,706
The acquired intangible assets are related to software, customer list, brand names and other intangible assets and have a
weighted-average useful life of approximately 5 years.
PYA/Monarch: In December 2000, USF completed its acquisition of PYA/Monarch, a food service distributor in the U.S.
for a total cash consideration of approximately USD 1.57 billion (EUR 1.7 billion). PYA/Monarch was previously a
subsidiary of Sara Lee Corporation. The acquisition resulted in goodwill of USD 1.3 billion (EUR 1.4 billion) which was
capitalized and will be amortized over 20 years.
The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of the
PYA/Monarch acquisition.
At December 5, 2000
Goodwill
Tangible fixed assets
Current assets
1,404
48
668
Total assets acquired
2,120
Provisions
Current liabilities
99
268
Total liabilities assumed
367
Consideration
1,753
- Superdiplo: In December 2000, Ahold completed a public tender offer for 97.64% of the outstanding shares of the
Spanish food retailer, Superdiplo, S.A. As a result, on January 3, 2001, Ahold exchanged 36,849,875 newly issued
Ahold common shares, with a value of EUR 1,266, for 49,797,129 Superdiplo shares, representing 97.64% of the
outstanding share capital in Superdiplo. The value of the 36,849,875 Ahold common shares issued was EUR 34.36 per
share, based on the market price of Ahold's common shares on December 29, 2000. During fiscal 2001 and 2002
Ahold increased its shareholdings to 99.97% through the exercise of stock options rights and tender offers. Superdiplo's
assets, liabilities and shareholders' equity were included in Ahold's consolidated balance sheets as of December 31,
2000, as the tender offer for Superdiplo's shares was completed and irrevocable, and the risks and rewards of ownership
had passed to Ahold on December 29, 2000. The results of Superdiplo have been consolidated since the beginning of
fiscal 2001. The acquisition resulted in goodwill of EUR 1,208.
