Last Refreshed: 8/5/2021 9:11:10 AM
Press release

Stop & Shop Local Unions Ratify Previously Announced Withdrawal Agreement on UFCW International Union - Industry Pension Fund; No Impact to Previously Issued Outlook

Zaandam, the Netherlands, November 30, 2020 – Ahold Delhaize announces today that the UFCW Locals of its U.S. brand Stop & Shop have ratified the agreement to terminate participation in the United Food & Commercial Workers International Union  Industry Pension Fund (the National Plan).As previously announced, the agreement does not impact the 2020 financial outlook.   

Details of the financial impact were outlined in the original release on July 21st, 2020, and can be found here. This withdrawal improves the security of pension benefits for associates as well as reduces financial risk for the company and was determined, by the National Plan’s trustees, to be in the best interests of the National Plan’s participants and beneficiaries 

Also as previously announced, Stop & Shop, together with Kroger and the UFCW Locals, are creating the UFCW International Union-Industry Variable Annuity Pension Plan for future benefits. This new plan is designed to protect the benefit accrual of participants, with a significantly reduced risk of plan underfunding and improved visibility on annual contributions. 

Cautionary notice 

This communication includes forward-looking statements. All statements other than statements of historical facts may be forward-looking statements. Words such as impact, outlook, 2020, improve(s)/(d), reduce(s)/(d), risk, to be, interests, creating, future, plan, designed or other similar words or expressions are typically used to identify forward-looking statements.  

Forward-looking statements are subject to risks, uncertainties and other factors that are difficult to predict and that may cause actual results of Koninklijke Ahold Delhaize N.V. (the “Company”) to differ materially from future results expressed or implied by such forward-looking statements. Such factors include, but are not limited to the risk factors set forth in the Company’s public filings and other disclosures. Forward-looking statements reflect the current views of the Company’s management and assumptions based on information currently available to the Company’s management. Forward-looking statements speak only as of the date they are made and the Company does not assume any obligation to update such statements, except as required by law.