With the benefit of hindsight, Ahold CFO Michiel Meurs concedes that it might have been better to devote capital to building hypermarkets. Still, Boot insists Ahold's fortunes in Asia are changing. "We've made a lot of progress," he asserts. "Sales are up, gross margin is up, and expenses are under control. More customers are in the store every week." -- Tom Leander
AHOLD'S SHOPPING LIST
To make it onto Ahold's list of desirable acquisition candidates, a company must meet each of the following six criteria:
- It must be either No. 1 or 2 in regional market share, or have the potential to become No. 1.
- It must have an excellent customer reputation, as reflected in focus groups.
- Management must be very qualified and willing to work for Ahold.
- The company must be profitable and have the potential to increase profits.
- It must offer potential synergies.
- Its marketing must emphasize food quality, nutrition, and safety.
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