Bi-Lo Holdings and Delhaize Group announced they have received approval from the Federal Trade Commission (FTC) to proceed with the transaction in which Bi-Lo Holdings will acquire substantially all of the stores in the Sweetbay, Harveys and Reid’s supermarket chains from Delhaize. Bi-Lo Holdings agreed to divest 12 Delhaize America stores in the states of Fla., Ga., and S.C., and Delhaize Group has agreed to retain two additional stores and convert them to the Food Lion banner, pursuant to a consent order accepted by the FTC for public comment on February 25, 2014. The order is subject to final approval by the FTC after the close of a 30-day comment period.
“We have been preparing for the integration of the Sweetbay, Harveys and Reid’s banners and store associates for many months and are delighted to now move forward and welcome them to the Bi-Lo Holdings family,” says R. Randall Onstead, president and CEO of Bi-Lo Holdings.
“We would like to thank the associates of Sweetbay, Harveys, and Reid´s for their outstanding accomplishments,” says Delhaize Group CEO Frans Muller. “As we complete the transition process, we share our deepest appreciation for their many contributions and service to our customers during their tenure with our company.”
In addition to the sale of the 12 store leases and related assets, the buyers of the 12 stores will provide each store employee the opportunity to interview for continued employment.
Bi-Lo Holdings and Delhaize Group anticipate that the acquisition of the Sweetbay, Harvey’s and Reid’s supermarkets will begin on March 22, 2014 and be complete on May 31, 2014, subject to the satisfaction of remaining closing conditions.