The transaction includes a total of 165 stores with approximately 10,000 employees throughout the southeastern United States and is expected to close in the fourth quarter of 2013, subject to regulatory approval.
“We are pleased to announce this transaction, which will build on the strength of our Bi-Lo and Winn-Dixie stores and allow us to extend our great products at great value to a broader customer base,” said Randall Onstead, president and CEO of Bi-Lo Holdings. “Sweetbay, Harveys and Reid’s are well-recognized and trusted businesses that share our passion for exceptional service. We look forward to welcoming the outstanding associates of all three chains to the Bi-Lo Winn-Dixie family.”
Commenting on the divesture, Pierre-Olivier Beckers, CEO of Delhaize Group, said: “We believe this transaction represents a significant move toward 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.”