Sponsored By

Lucky’s Market to sell stores to Southeastern Grocers

Seabra Foods, Hitchcock’s Markets also to buy Lucky’s locations

Russell Redman

February 5, 2020

3 Min Read
Luckys Market-store banner-closeup.png
With the latest bids, 24 Lucky’s Market store properties now have buyers, including Aldi, Publix, Southeastern Grocers, Seabra Foods, Hitchcock's Markets and Lucky's founders Bo and Trish Sharon.Lucky's Market

Lucky’s Market, now in Chapter 11 bankruptcy protection, plans to sell seven stores that had been earmarked for closure to Southeastern Grocers, Seabra Foods and Hitchcock’s Markets.

All of the stores are in Florida, Lucky’s said yesterday evening. Under the asset purchase agreements, Southeastern Grocers is slated to acquire stores in Naples, Fort Myers, Gainesville, Lake Mary and Melbourne. Seabra and Hitchcock’s agreed to buy stores in Hunters Creek and St. Petersburg, respectively.

With the new bids, Lucky’s now has buyers for 24 store properties. Focusing on natural and organic groceries, the Niwot, Colo.-based specialty grocer operates stores in Colorado, Florida, Georgia, Indiana, Kentucky, Michigan, Missouri, Montana, Ohio and Wyoming.

Lucky’s reported on Jan. 21 that it aims to shut 32 of its 39 stores and file for Chapter 11 to facilitate the sale of its remaining locations and assets. About a week later, the chain announced stalking horse bids from Aldi and Publix Super Markets for 11 stores. And the next day, Lucky’s said it entered agreements to sell its remaining seven locations to co-founders Bo and Trish Sharon.

The Lucky’s stores set to be acquired by Aldi and Publix are in Florida. Aldi agreed to purchase locations (five leases, one owned) in Coral Springs, Oakland Park, Sarasota, Vineland, Colonial Landing (Orlando) and Venice. Meanwhile, Publix plans to buy stores (five leases) in Naples, Neptune Beach, Clermont, South Orange (Orlando) and Ormond Beach.

Related:Lucky’s Market founders to acquire remaining stores

Plans now call for the Sharons to purchase six leased stores in Traverse City, Mich.; Cleveland and Columbus, Ohio; Columbia, Mo.; and North Boulder and Fort Collins, Colo. Lucky’s said late Tuesday that the Sharons’ asset purchase agreement was amended to exclude the retailer’s Melbourne store, now slated to go to Southeastern Grocers. 

Jacksonville, Fla.-based Southeastern Grocers aims to convert the Lucky’s stores it agreed to buy to the Winn-Dixie banner.

“We have come to agreements in principal for five Lucky’s Market locations in Florida: Melbourne, Gainesville, Fort Myers, Naples and Lake Mary,” Southeastern Grocers spokesman Joe Caldwell said in a statement on Wednesday. “We’re humbled by the opportunity to invest in the core of our footprint and to deepen our presence in communities we know, respect and already operate successfully within. We are making all reasonable efforts to bring these opportunities to life in these communities. Provided that agreements in principal come to fruition, we look forward to welcoming customers to these stores this year. These stores would be Winn-Dixie locations.”

Related:Lucky’s Market fields bids for stores from Aldi, Publix

The proposed sales are subject to court approval and an overbidding process. Lucky’s, which has retained financial advisory firm PJ Solomon to assist in the asset sales, said it “continues to be in active dialogue with various additional potential buyers.” Other store properties up for sale or slated for closure are in Florida, Colorado, Georgia, Indiana, Kentucky, Michigan, Missouri, Montana and Wyoming.

Lucky’s position became unsettled after The Kroger Co. said in early December that it would divest its stake in the grocery chain. In April 2016, Cincinnati-based Kroger announced a strategic partnership with Lucky’s that included an undisclosed equity interest.

About the Author

Russell Redman

Senior Editor
Supermarket News

Russell Redman has served as senior editor at Supermarket News since April 2018, his second tour with the publication. In his current role, he handles daily news coverage for the SN website and contributes news and features for the print magazine, as well as participates in special projects, podcasts and webinars and attends industry events. Russ joined SN from Racher Press Inc.’s Chain Drug Review and Mass Market Retailers magazines, where he served as desk/online editor for more than nine years, covering the food/drug/mass retail sector. 

Russell Redman’s more than 30 years of experience in journalism span a range of editorial manager, editor, reporter/writer and digital roles at a variety of publications and websites covering a breadth of industries, including retailing, pharmacy/health care, IT, digital home, financial technology, financial services, real estate/commercial property, pro audio/video and film. He started his career in 1989 as a local news reporter and editor, covering community news and politics in Long Island, N.Y. His background also includes an earlier stint at Supermarket News as center store editor and then financial editor in the mid-1990s. Russ holds a B.A. in journalism (minor in political science) from Hofstra University, where he also earned a certificate in digital/social media marketing in November 2016.

Russell Redman’s experience:

Supermarket News - Informa
Senior Editor 
April 2018 - present

Chain Drug Review/Mass Market Retailers - Racher Press
Desk/Online Editor 
Sept. 2008 - March 2018

CRN magazine - CMP Media
Managing Editor
May 2000 - June 2007

Bank Systems & Technology - Miller Freeman
Executive Editor/Managing Editor
Dec. 1996 - May 2000

Supermarket News - Fairchild Publications
Financial Editor/Associate Editor
April 1995 - Dec. 1996 

Shopping Centers Today Magazine - ICSC 
Desk Editor/Assistant Editor
Dec. 1992 - April 1995

Testa Communications
Assistant Editor/Contributing Editor (Music & Sound Retailer, Post, Producer, Sound & Communications and DJ Times magazines)
Jan. 1991 - Dec. 1992 

American Banker/Bond Buyer
Copy Editor
Oct. 1990 - Jan. 1991 

This Week newspaper - Chanry Communications
Reporter/Editor
May 1989 - July 1990

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

You May Also Like