US: Bi-Lo, Harris Teeter strike deal for Piggly Wiggly stores
Harris Teeter will purchase seven stores and Bi-Lo 22
US regional supermarket operators Bi-Lo and Harris Teeter have both struck deals to buy a network of Piggly Wiggly stores.
The deals, for an undisclosed sum, will see Winn-Dixie store operator Bi-Lo purchase 16 stores in South Carolina and six in Georgia from Piggly Wiggly Carolina Co. The transaction will include around 1,200 employees.
Harris Teeter will purchase seven stores: three in Charleston, two in Mount Pleasant, one on Kiawah Island and one of Isle of Palms. Harris Teeter is itself being acquired for more than US$2.44bn by Kroger, a deal struck in July.
"We look forward to welcoming these new associates to the Bi-Lo Holdings family and to building on the strength of these stores," said Bi-Lo CEO Randall Onstead. "We will continue to fine-tune our company and network of stores so that we can reinvest in what matters most for our customers... the freshest foods, the best deals and really connecting to their neighborhoods."
Harris Teeter CEO Thomas Dickson said the group plans to remodel and expand a number of the locations to create brand new Harris Teeter stores. "Charleston is a growing and vibrant market, and we look forward to continuing to expand our presence in the region."
The transaction is expected to close in October. Upon completion, the acquired stores will be rebranded under the Bi-Lo and Harris Teeter banners.
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