The parent company of Bi-Lo and Winn Dixie grocery stores is acquiring the Harveys, Sweetbay and Reid’s grocery chains for $265 million in cash, it was announced Monday.
Bi-Lo Holdings is acquiring the stores from Delhaize Group, a Belgium-based company. As part of the deal, Bi-Lo will acquire 72 Harveys stores and 72 Sweetbay locations, in addition to leases for 10 Sweetbay locations and 11 Reid’s stores.
The stores employ about 10,000 employees throughout the Southeast.
The deal is expected to close in the fourth quarter and faces federal antitrust review. Sweetbay, Harveys and Reid’s will continue to operate independently until the deal closes, Bi-Lo said.
Bi-Lo Chief Executive Officer Randall Onstead said the acquisition will help the company serve a broader customer base.
The Harveys supermarket chain has the largest presence in Georgia among the three chains. In Georgia, Harveys are found mainly in small cities in rural areas. There are also Harveys locations in Florida and South Carolina. The other chains are found primarily in other states.
Delhaize America’s other stores include Food Lion, Bottom Dollar Food and Hannaford Supermarkets.
About the Author
