Bi-Lo Holdings and Delhaize America said yesterday that the Federal Trade Commission (FTC) has approved the acquisition of Delhaize's Sweetbay, Harveys and Reid's chains, pending the completion next month of a 30-day comment period.
The closing of the deal is contingent on the closing/divestiture of 12 stores by Bi-Lo, and the retention of two stores by Delhaize, which will convert them to its Food Lion banner, thus satisfying concerns about competitive and antitrust issues.
It was just 10 months ago that Bi-Lo Holdings, parent company to both Bi-Lo and Winn-Dixie, announced its intent to acquire 155 operating Sweetbay, Harveys and Reid’s supermarket chains from Delhaize Group for $265 million. At the close of the transaction, Bi-Lo Holdings will operate 134 of the stores.
The closing of the deal is contingent on the closing/divestiture of 12 stores by Bi-Lo, and the retention of two stores by Delhaize, which will convert them to its Food Lion banner, thus satisfying concerns about competitive and antitrust issues.
It was just 10 months ago that Bi-Lo Holdings, parent company to both Bi-Lo and Winn-Dixie, announced its intent to acquire 155 operating Sweetbay, Harveys and Reid’s supermarket chains from Delhaize Group for $265 million. At the close of the transaction, Bi-Lo Holdings will operate 134 of the stores.
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