Ahold Delhaize said that Food Lion, its leading supermarket chain in the southeastern United States, has made a major step forward to expand its store network through previously announced plans to purchase 62 BI-LO/Harveys Supermarket stores from Southeastern Grocers.
The U.S. Federal Trade Commission has granted Food Lion early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976 which satisfies one of the conditions of closing the transaction of the purchase of these stores in North Carolina, South Carolina, and Georgia.
The 62 stores will be converted to Food Lion stores, as part of the brand’s continued expansion in the southeast of the U.S., and Food Lion expects to hire more than 4,650 associates to serve customers at the stores. The asset deal with Southeastern Grocers, which was announced on June 3, 2020, also includes the acquisition of an additional distribution center in Mauldin, SC.
Both acquisitions are currently expected to be completed during the first half of 2021, subject to customary closing conditions. Financial terms of the deal were not disclosed and the company’s financial guidance remains unchanged.