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Ahold Delhaize's bol.com Closes Majority Acquisition of Cycloon.

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Vincent

MANews-(C)2009-2022

Netherlands-based supermarket operator Ahold Delhaize's bol.com Benelux online retailing business and delivery expert Cycloon have completed a transaction in which bol.com has become a majority shareholder of Cycloon, the company said.

The Dutch Authority for Consumers and Markets has approved this transaction. Bol.com and Cycloon can now work towards the first joint delivery of a bol.com package, which is expected to happen in the second half of this year.

The parties wish to jointly accelerate Cycloon's growth and share the ambition to make delivery more sustainable and social.

The current management team of Cycloon will be continued, and the existing shareholders of Cycloon will remain involved as such.

Cycloon will continue to deliver mail and packages for current and new customers, next to delivering packages for bol.com.

This concerns both packages from bol.com itself as well as packages from sales partners who store their products at the distribution centers of bol.com.

As part of the terms of the transaction, bol.com will acquire the remaining shares in four years' time, subject to approval of the relevant competition authority. The parties say they plan to continue operating Cycloon as an independent brand.

Cycloon, is the green and social delivery expert of the Netherlands. Cycloon's mission is to move the delivery market to become greener and more social.

The company initiated a national bicycle courier platform in 2016 and...

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