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BARCELONA - Royal Ahold's Chief Executive, Cees van der Hoeven, recently said the company won't make any sizeable acquisitions this year, Dow Jones reports.
Speaking exclusively to Dow Jones Newswires at the ECR Confernce in Barcelona, van der Hoeven said: "We won't have much acquisitions growth for this year. We recognize, first, that there isn't much going on in terms of acquisition potential. And we would like to make it clear to the market that we will not come to the market for an equity offering this year."
Van der Hoeven said the company will stick to organic growth in the immediate future.
He also predicted there would be just five truly global food retailers in the future as consolidation in the sector continues.
Van der Hoeven defined global as "being successful in more than 20 countries and having a meaningful market share in these countries, with a sizeable sales base," according to Dow Jones.