Jacksonville, Fla., and Brussels, Belgium — Bi-Lo plans to acquire substantially all of the stores in the Sweetbay, Harveys and Reid’s supermarket chains from Delhaize.
Jacksonville, Fla., and Brussels, Belgium — Bi-Lo Holdings, LLC and Delhaize Group, the Belgian international food retailer, have received approval from the Federal Trade Commission (FTC) to proceed with the transaction in which Bi-Lo Holdings will acquire substantially all of the stores in the Sweetbay, Harveys and Reid’s supermarket chains from Delhaize, whose brands include Food Lion, among others.
Bi-Lo Holdings agreed to divest 12 Delhaize America stores in the states of Florida, Georgia and South Carolina, and Delhaize Group has agreed to retain two additional stores and convert them to the Food Lion banner, pursuant to a consent order accepted by the FTC for public comment on February 25, 2014. The order is subject to final approval by the FTC after the close of a 30-day comment period.
“We have been preparing for the integration of the Sweetbay, Harveys and Reid’s banners and store associates for many months and are delighted to now move forward and welcome them to the Bi-Lo Holdings family,” says R. Randall Onstead, president and CEO of Bi-Lo Holdings.
Bi-Lo Holdings and Delhaize Group anticipate that the acquisition of the Sweetbay, Harvey’s and Reid’s supermarkets will begin on March 22, 2014 and be complete on May 31, 2014, subject to the satisfaction of remaining closing conditions.
In other news, Delhaize Group has signed an agreement with AP Mart, which is in process of registration, to divest Delhaize’s Bulgarian operations. The transaction is expected to complete in the second quarter, subject to regulatory approval as well as customary closing conditions and working capital adjustments.
SOURCE: Delhaize Group, Bi-Lo Holdings