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U.S. Foodservice Signs New Securitization Program

ZAANDAM, The Netherlands - U.S. Foodservice, Columbia, MD, has entered into a new US$600 million receivable 364-day securitization program with three banks, its corporate owner, Ahold, reported today, according to news reports.

The new agreement, which was entered into yesterday, replaces the aggregate US$490 million variable investment certificates commitments under the existing securitization programs with immediate effect.

Commenting on the deal, Ahold cfo Hannu Ryopponen said, "We are happy to have reached agreement on terms and conditions that are very much in line with market standards and that includes improved pricing."

In another matter pertaining to the second largest distributorship's accounts, Health Express USA, Deerfield Beach, FL, reported today that it has entered into a master distributor agreement with U.S. Foodservice.

Health Express USA is the parent company of Healthy Bites Grill, a gourmet fast-casual restaurant which recently opened its first franchise location in North Broward County. Under the agreement, Health Express will benefit from regulated pricing, while also controlling product quality throughout the system.

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