0949 GMT - Ahold Delhaize is likely to stick to its bolt-on strategy of acquiring small independent chains in the U.S., Garnier analyst Clement Genelot says. The Dutch grocer has the financial firepower to increase its exposure in the U.S. with little impact to shareholder returns, while antitrust risks remain low and Chief Executive Frans Muller recently commented on bolt-on acquisitions in the Northeast, the analyst says. "We would not welcome a large-scale acquisition as it would jeopardise Ahold Delhaize's 2.5% FCF margin generation and around 7%-8% recurring and safe capital returns," Genelot adds. Shares are up 0.7% at 31.98 euros. (michael.susin@wsj.com)
(END) Dow Jones Newswires
January 07, 2025 04:50 ET (09:50 GMT)
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