CHARLESTON, S.C. — In a continuation of rapid consolidation in the Southeast, Piggly Wiggly Carolina said Thursday that it would sell 28 stores — 22 to Bi-Lo Holdings and another 6 to Harris Teeter. Financial terms were not disclosed.
Harris Teeter, based in Matthews, N.C., is also acquiring a store site under construction in Isle of Palms, S.C. The company said it planned to expand and remodel the stores it is buying, which include three locations in Charleston; two stores in Mt. Pleasant, S.C.; and the Newton Farms specialty store, located in Kiawah Island, S.C.
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Bi-Lo Holdings, Jacksonville, Fla., is acquiring 22 Piggly Wiggly locations — 16 in South Carolina and 6 in Coastal Georgia. The company said it anticipated converting those stores to the Bi-Lo banner following the closing of the deal in the fourth quarter.
The deals continue a wave of consolidation among Southeast retailers this year. Harris Teeter is in the process of being acquired by Kroger Co., Cincinnati. Bi-Lo Holdings earlier this year announced plans to acquire the Sweetbay, Reid’s and Harveys banners from Delhaize America.
Piggly Wiggly Carolina will continue to operate 32 corporate-owned stores and to supply 28 franchise customers, sources said.
"The departure of employees and stores from the Piggly Wiggly team will be acutely felt, but we know that Bi-Lo Holdings and Harris Teeter will benefit from these outstanding folks," David Schools, president and chief executive officer of Piggly Wiggly Carolina, said in a statement. "We are glad that employees in these stores will have the opportunity to work for Bi-Lo Holdings or Harris Teeter, and guests will continue to be served by the familiar people who have been the backbone of these stores for years.”
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