At his last AGM as head of the company, Ahold president and chief executive Anders Moberg, who resigned last week, said: 'I am extremely pleased with the agreed price, higher than many in the market had predicted.'
Ahold said its supervisory and corporate executive boards are recommending the sale, which still has to be approved by shareholders at a meeting in June. If approved, the deal is expected to be finalised later this year.
Moberg said: 'To better position the company for profitable and sustainable growth, we have refocused our portfolio. We are concentrating our resources on our core retail businesses in the US and Europe, where we can achieve and maintain a number one or number two position. Once the sale of US Foodservice is completed, we will again be fully focused on retail.'
Ahold also sold its Polish retail operations to Carrefour for Eu374 million (£255.4 million) last December.