{"id":152414,"date":"2026-07-27T16:57:57","date_gmt":"2026-07-27T14:57:57","guid":{"rendered":"https:\/\/www.retaildetail.be\/?p=152414"},"modified":"2026-07-27T16:57:59","modified_gmt":"2026-07-27T14:57:59","slug":"analyse-dix-ans-apres-la-fusion-ahold-delhaize-se-trouve-a-un-tournant","status":"publish","type":"post","link":"https:\/\/www.retaildetail.be\/fr\/news\/food\/analyse-dix-ans-apres-la-fusion-ahold-delhaize-se-trouve-a-un-tournant\/","title":{"rendered":"[Analyse] Dix ans apr\u00e8s la fusion, Ahold Delhaize se trouve \u00e0 un tournant"},"content":{"rendered":"\n

Lundi matin, Ahold Delhaize<\/strong> a c\u00e9l\u00e9br\u00e9 le dixi\u00e8me anniversaire de la fusion en sonnant la cloche d’ouverture \u00e0 Euronext Amsterdam. Le groupe peut se pr\u00e9valoir d’un parcours impressionnant, mais doit \u00e9galement relever des d\u00e9fis de taille.<\/p>\n\n\n\n

Des marques locales, une envergure internationale<\/h2>\n\n\n\n

Il y a dix ans, le 25 juillet 2016, Ahold Delhaize faisait son entr\u00e9e en bourse, apr\u00e8s la finalisation officielle de la fusion entre Koninklijke Ahold et Delhaize Group le 23 juillet de la m\u00eame ann\u00e9e. Depuis lors, l\u2019entreprise est pass\u00e9e d\u2019environ 50 millions de clients par semaine \u00e0 77 millions aujourd\u2019hui, avec 17 marques locales r\u00e9parties aux \u00c9tats-Unis, en Europe et en Indon\u00e9sie, 384 000 collaborateurs et plus de 9 500 magasins. L\u2019entreprise occupe la premi\u00e8re ou la deuxi\u00e8me place sur tous les march\u00e9s o\u00f9 elle est pr\u00e9sente.<\/p>\n\n\n\n

Les investisseurs ne s\u2019en sont pas plaints : au cours de la derni\u00e8re d\u00e9cennie, dans des conditions tr\u00e8s difficiles, l\u2019action a nettement mieux perform\u00e9 que celle de la plupart des autres d\u00e9taillants internationaux. \u00ab Lorsque Ahold et Delhaize Group ont fusionn\u00e9, nous \u00e9tions convaincus que les marques locales seraient plus solides si elles b\u00e9n\u00e9ficiaient d\u2019une envergure internationale. Dix ans plus tard, cette conviction s\u2019est av\u00e9r\u00e9e juste \u00bb, d\u00e9clare Frans Muller, PDG sortant. \u00ab Nos marques restent \u00e9troitement li\u00e9es aux clients et aux communaut\u00e9s qu\u2019elles servent, tout en tirant parti de notre envergure, de notre expertise partag\u00e9e, de notre technologie et de notre innovation. Associ\u00e9 \u00e0 l\u2019engagement de nos collaborateurs, c\u2019est l\u00e0 notre recette secr\u00e8te. \u00bb<\/p>\n\n\n\n

Saisir les opportunit\u00e9s<\/h2>\n\n\n\n

Le dirigeant s\u2019attend \u00e0 ce que l\u2019avenir de la grande distribution alimentaire soit fa\u00e7onn\u00e9 par l\u2019innovation technologique, une personnalisation accrue, la croissance continue du commerce omnicanal et une demande toujours plus forte pour des choix alimentaires abordables, plus sains et plus durables. \u00ab Le mod\u00e8le d\u2019Ahold Delhaize, qui repose sur des marques locales fortes, soutenues par notre envergure, l\u2019innovation et des gammes de marques de distributeur de grande qualit\u00e9, nous permet de faire face \u00e0 ces changements avec succ\u00e8s. \u00bb<\/p>\n\n\n\n

\u00ab La d\u00e9cennie \u00e0 venir apportera des changements profonds dans le secteur de la grande distribution alimentaire, et nous sommes bien positionn\u00e9s pour tirer parti des opportunit\u00e9s qui se pr\u00e9senteront \u00bb, estime \u00e9galement Jolanda Poots-Bijl, directrice financi\u00e8re. En r\u00e9sum\u00e9, l\u2019entreprise se dit pr\u00eate \u00e0 relever le d\u00e9fi.<\/p>\n\n\n\n

Un march\u00e9 turbulent<\/h2>\n\n\n\n

Cela ne sera pas une mince affaire. Apr\u00e8s un parcours quasi sans faute au cours des dix derni\u00e8res ann\u00e9es, un nouveau chapitre s\u2019ouvre pour le groupe. Le PDG Muller passe le relais au Britannique d\u2019origine fran\u00e7aise Thierry Garnier<\/a>, qui a fait ses armes chez Carrefour<\/strong>, Kingfisher<\/strong> et Tesco<\/strong>. Il devra diriger l\u2019entreprise au cours des prochaines ann\u00e9es, qui ne devraient pas \u00eatre moins mouvement\u00e9es que les pr\u00e9c\u00e9dentes. Et pas seulement parce que la num\u00e9risation va s\u2019acc\u00e9l\u00e9rer \u00e0 l\u2019\u00e8re de l\u2019IA.<\/p>\n\n\n\n

Aux \u00c9tats-Unis notamment, la consommation est actuellement soumise \u00e0 une forte pression. Le r\u00e9cent avertissement sur les r\u00e9sultats du concurrent Albertsons<\/strong>, qui se voit contraint de baisser consid\u00e9rablement ses prix pour ne pas perdre de clients dans un contexte de hausse des prix de l\u2019essence, a port\u00e9 un coup dur \u00e0 la confiance des investisseurs dans les autres cha\u00eenes de supermarch\u00e9s am\u00e9ricaines \u2013 dont fait donc partie Ahold Delhaize. Les \u00c9tats-Unis repr\u00e9sentent plus de 60 % du chiffre d’affaires du groupe. Il faudra attendre le 5 ao\u00fbt pour conna\u00eetre les derniers chiffres.<\/p>\n\n\n\n

Opportunit\u00e9s et d\u00e9fis<\/h2>\n\n\n\n

En Europe, les d\u00e9fis ne sont gu\u00e8re moins importants. En Europe de l\u2019Est, o\u00f9 le pouvoir d\u2019achat est de toute fa\u00e7on nettement inf\u00e9rieur, les mesures gouvernementales telles que les restrictions de prix et de marges<\/a> limitent la marge de man\u0153uvre des distributeurs internationaux. Des opportunit\u00e9s de consolidation suppl\u00e9mentaire se pr\u00e9sentent, par exemple maintenant que Tesco <\/strong>a d\u00e9cid\u00e9 de se retirer de la r\u00e9gion<\/a>, mais l\u2019exploitation des synergies reste une t\u00e2che difficile.<\/p>\n\n\n\n

En Belgique, le groupe semble en passe de devenir leader du march\u00e9, gr\u00e2ce \u00e0 la r\u00e9orientation r\u00e9ussie de Delhaize<\/strong> et \u00e0 la croissance soutenue du challenger Albert Heijn<\/strong>. Sur le march\u00e9 n\u00e9erlandais, la comparaison devient particuli\u00e8rement difficile, apr\u00e8s une p\u00e9riode tout de m\u00eame exceptionnelle marqu\u00e9e par plusieurs ann\u00e9es cons\u00e9cutives de gains de parts de march\u00e9 pour le leader dominant, qui souffre d\u2019une image de prix \u00e9lev\u00e9s. En effet, c\u2019est pr\u00e9cis\u00e9ment maintenant que les challengers Jumbo<\/strong>, Lidl<\/strong> et Aldi <\/strong>reprennent leur souffle, ce qui risque d\u2019accentuer \u00e0 nouveau la pression sur les prix. La t\u00e2che s\u2019annonce ardue pour \u00ab l\u2019entreprise technologique qui vend de l\u2019alimentation \u00bb.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Lundi matin, Ahold Delhaize a c\u00e9l\u00e9br\u00e9 le dixi\u00e8me anniversaire de la fusion en sonnant la cloche d’ouverture \u00e0 Euronext Amsterdam. Le groupe peut se pr\u00e9valoir d’un parcours impressionnant, mais doit \u00e9galement relever des d\u00e9fis de taille. <\/p>\n","protected":false},"author":3,"featured_media":152415,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[18,24],"tags":[],"people":[],"extra":[43],"company":[124],"topic":[275],"region":[],"class_list":{"0":"post-152414","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-food","9":"extra-plus","10":"company-ahold-delhaize","11":"topic-analyse"},"acf":[],"yoast_head":"\n[Analyse] Dix ans apr\u00e8s la fusion, Ahold Delhaize se trouve \u00e0 un tournant - RetailDetail BE<\/title>\n<meta name=\"description\" content=\"Lundi matin, Ahold Delhaize a c\u00e9l\u00e9br\u00e9 le dixi\u00e8me anniversaire de la 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