Bi-Lo Acquires Sweetbay, Harveys and Reid’s
Bi-Lo Holdings, the parent company of the Bi-Lo and Winn-Dixie grocery chains, has acquired the Sweetbay, Harveys and Reid’s supermarket chains from Delhaize Group, according to an announcement on May 28.
Bi-Lo will acquire 72 Sweetbay stores, and leases for 93 more stores between the Sweetbay, Harveys and Reid’s banners, for $265 million. All three grocery chains are based in the southeast. The deal is pending regulatory review and approval.
“Sweetbay, Harveys and Reid’s are well-recognized and trusted businesses that share our passion for exceptional service,” said Randall Onstead, president and CEO of Bi-Lo Holdings. “We look forward to welcoming the outstanding associates of all three chains to the BI-LO Winn-Dixie family.”
Delhaize CEO Pierre-Olivier Beckers said, “We believe this transaction represents a significant move towards simplifying our business and will allow for even greater focus at Delhaize America. The transaction will further increase the financial flexibility required to execute our strategic priorities.”
The acquisition will add to the 686 grocery stores under the Bi-Lo Holdings parent company. However, until the deal has been completed (expected to be in the fourth quarter of 2013), Sweetbay, Harvey’s and Reid’s will continue to operate independently from Bi-Lo.