Sponsored By

Bi-Lo to Acquire Sweetbay, Harveys

JACKSONVILLE, Fla. — Bi-Lo Holding here on Tuesday said it has agreed to acquire the Sweetbay, Reid’s and Harveys banners from Delhaize America for $265 million in cash.

Jon Springer, Executive Editor

May 28, 2013

2 Min Read
Supermarket News logo in a gray background | Supermarket News

JACKSONVILLE, Fla. — Bi-Lo Holding here on Tuesday said it has agreed to acquire the Sweetbay, Reid’s and Harveys banners from Delhaize America for $265 million in cash.

As part of the transaction, Bi-Lo will also acquire leases for 10 Sweetbay locations that closed earlier this year. Delhaize will retain Sweetbay’s distribution center. In 2012, the 165 stores included in the transaction generated revenues of approximately $1.8 billion.

CONNECT WITH SN ON LINKEDIN

Join SN's LinkedIn Group to network with industry professionals.

Bi-Lo Holding operates the Bi-Lo and Winn-Dixie chains in eight Southern states. Sweetbay operates 72 stores on Florida’s Gulf Coast. Harveys operates 72 stores in rural markets in southern Georgia and northern Florida. Reid’s operates 11 stores in South Carolina.

The sale is expected to close in the fourth quarter of 2013 and is subject to regulatory approval and customary closing conditions.

“We would like to thank the associates of Sweetbay, Harveys and Reid’s for their ongoing commitment and accomplishments throughout the years,” Pierre-Olivier Beckers, Delhaize’s chief executive officer, said in a statement Tuesday. “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.”

 

About the Author

Jon Springer

Executive Editor

Jon Springer is executive editor of Winsight Grocery Business with responsibility for leading its digital news team. Jon has more than 20 years of experience covering consumer business and retail in New York, including more than 14 years at the Retail/Financial desk at Supermarket News. His previous experience includes covering consumer markets for KPMG’s Insiders; the U.S. beverage industry for Beverage Spectrum; and he was a Senior Editor covering commercial real estate and retail for the International Council of Shopping Centers. Jon began his career as a sports reporter and features editor for the Cecil Whig, a daily newspaper in Elkton, Md. Jon is also the author of two books on baseball. He has a Bachelor of Arts degree in English-Journalism from the University of Delaware. He lives in Brooklyn, N.Y. with his family.

Stay up-to-date on the latest food retail news and trends
Subscribe to free eNewsletters from Supermarket News

You May Also Like