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Ahold Expected to Reveal Plans for U.S. Foodservice Next Month

By Restaurant Business Staff on Oct. 24, 2005


Ahold Chief Executive Anders Moberg and U.S. Foodservice Chief Executive Larry Benjamin will host a presentation Nov. 29, when Ahold is due to present its third-quarter financial results.

The second largest foodservice distribution unit was at the center of a nearly $1 billion accounting scandal that rocked Ahold in 2003. An alleged scheme to inflate rebates became public and only an emergency credit of $3.7 billion averted an Ahold bankruptcy. Both Columbia, MD-based U.S. Foodservice, which generates about one-third of Ahold's sales, and its parent incurred top-management shakeups.

Ahold said it anticipates U.S. Foodservice's operating income before impairment or goodwill amortization to exceed 1.7% by next year, a year that Ahold recently called increasingly challenging.

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