Ahold Delhaize's Strong Local Positions Should Support Future Growth

Koninklijke Ahold Delhaize is one of the largest grocers in the United States with almost $60 billion in sales across the country. It holds the number-one or number-two position in most of its markets with Albert Heijn in the Netherlands the group's most prized asset, commanding over 37% of Dutch market share, accounting for 55% of total European sales. The company has generally managed its expansion and operations prudently, with low levels of financial leverage and a strategy of financing its dividend and share buybacks using its free cash flow.