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Retail

Food Lion Makes Progress On Store Acquisition From Southeastern Grocers

Ahold Delhaize has announced that its subsidiary Food Lion has obtained an early termination of the waiting period to purchase 62 stores from Southeastern Grocers.

The acquisition, announced in June of this year, includes 62 BI-LO and Harveys Supermarket stores in North Carolina, South Carolina, and Georgia and a distribution centre in Mauldin, S.C.

The US Federal Trade Commission granted Food Lion early termination under the Hart-Scott-Rodino Antitrust Improvement Act of 1976, which satisfies one of the conditions for closing the transaction involving the purchase of these stores.

‘A Major Step Forward’

Ahold Delhaize described it as ‘a major step forward’ in expanding its store network in southeastern United States.

The retailer plans to convert all 62 stores to the Food Lion banner and hire more than 4,650 associates.

The deal, subject to customary closing conditions, is expected to close in the first half of 2021.

© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.

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