Food Lion announced Wednesday that it will acquire several BI-LO/Harveys Supermarket stores in the Southeast.
The grocer, headquartered in Salisbury, North Carolina, will acquire 46 BI-LO stores and 16 Harveys Supermarkets in North Carolina, South Carolina and Georgia from Southeastern Grocers, according to a news release. The financial terms of the tentative deal were not disclosed.
The added stores will remain open under the BI-LO and Harveys Supermarket banner until the transaction is completed. Once the transaction is completed, which will occur by April 2021, all stores will operate under the Food Lion banner.
“We are so excited to add these new locations to our more than 630 stores across Georgia and the Carolinas,” Food Lion President Meg Ham said in a statement. “We’ve been serving customers in these larger regions for almost 60 years.”
Food Lion has also acquired a distribution center in Mauldin, South Carolina, which will serve the 62 acquired stores and its retail network through the Mauldin facility once the deal closes.
At the close of the deal, BI-LO, which is headquartered in Jacksonville, Florida, will have 61 stores remaining in Georgia, North Carolina and South Carolina, and Harveys will have 30 stores in Florida, Georgia and the Carolinas.
Food Lion expects to hire more than 4,650 associates to serve customers at the 62 new stores.
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