Ahold share buyback program reaches milestone

ZAANDAM, Netherlands — Dutch supermarket operator Royal Ahold has bought back more than a quarter of the shares it intends to as part of a share-repurchase program announced earlier this year.

The company said Monday that it had bought back 2.23 million for $38.8 million. The purchases are part of the $678 million buyback program announced in February and increased by $2.03 billion in June.

The total amount repurchased so far is 42.8 million shares, for a total price of $711.9 million.

Ahold's U.S. subsidiary is Ahold USA, which owns the Stop & Shop, Giant Food of Landover, Md., and Giant Food Stores of Carlisle, Pa., supermarket banners and the Peapod online grocery service.