Reid's grocery will become a BI-LO next year
Reid's grocery store in Barnwell will become a BI-LO next year, the new owner of the supermarket chain announced Tuesday in a press release.
Bi-Lo Holdings, LLC, parent company of the BI-LO and Winn-Dixie grocery store chains, announced in May that it had entered into a definitive agreement with Delhaize Group to acquire all of the stores in the Sweetbay, Harveys and Reid's supermarket chains from Delhaize for $265 million. The sale is set to close before the end of the year.
There are 11 Reid's stores in the Midlands and Lowcountry regions. At the time of the sale in May, store officials said over 800 employees were working for the Reid's chain. All those stores will be renamed BI-LO beginning in the first quarter of 2014, the release says.
"Pending regulatory review, Bi-Lo Holdings intends to retain all store-level associates within the stores being acquired and operated," the release says.
Reid Boylston, director of Reid's and founder of the supermarket chain that bears his name, said, "I have been offered a position with Bi-Lo and, hopefully, we will implement the meat, produce and scratch deli programs which have made Reid's stores unique into the Bi-Lo format."
Boylston opened the Barnwell store in 1972. In 1998 Delhaize purchased the store and expanded the chain to its current status of 11 South Carolina stores associated with the Food Lion brand.
Besides Barnwell, stores are located in Aiken, Batesburg, Cayce, Hampton, Langley, New Ellenton, Orangeburg, Saluda, St. George and Walterboro.
The Sweetbay chain will become Winn-Dixie and the majority of the Harveys stores will keep their name.
Below is the entire press release:
Bi-Lo Holdings, LLC ("Bi-Lo Holdings"), parent company of BI-LO and Winn-Dixie supermarket chains, today announced its intent to continue the Harveys banner name and retire the Sweetbay and Reid's banner names following the close of its transaction with Delhaize Group (Euronext Brussels: DELB - NYSE: DEG) ("Delhaize"), parent company of Sweetbay, Harveys and Reid's supermarket chains.
"Sweetbay, Harveys and Reid's have outstanding reputations, and their talented teams of associates have played a key role in making these stores an important part of the communities they serve," said Randall Onstead, president and CEO of Bi-Lo Holdings. "We are pleased to soon welcome the outstanding associates of all three chains to the Bi-Lo Holdings family."
Upon the close of the transaction, Sweetbay stores will convert to the Winn-Dixie banner and Reid's stores will convert to the BI-LO banner. Pending regulatory review, Bi-Lo Holdings intends to retain all store-level associates within the stores being acquired and operated.
The majority of Harveys stores will remain branded as they are today, though a few Harveys stores may convert to the Winn-Dixie or BI-LO banner or vice versa. Conversion of the banner names is anticipated to begin in the first quarter of 2014.
The transitioning of Sweetbay and Reid's stores to Winn-Dixie and BI-LO banners respectively is to reduce overlapping footprints. There is little overlap between BI-LO, Winn-Dixie and Harveys stores. Through this transaction, we will be able to provide our great products at a great value to a broader base of customers.
In May 2013, Bi-Lo Holdings and Delhaize entered into a definitive agreement under which Bi-Lo Holdings will acquire substantially all of the stores in the Sweetbay, Harveys and Reid's supermarket chains from Delhaize. The transaction is anticipated to close in the first quarter of 2014 and is subject to the satisfaction of customary closing conditions, including expiration of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Until the transaction is complete, Sweetbay, Harveys and Reid's will continue to operate independently from Bi-Lo Holdings and its subsidiaries.
About Bi-Lo Holdings:
Bi-Lo Holdings, LLC, the parent company of BI-LO and Winn-Dixie grocery stores, is the ninth-largest conventional supermarket chain in the United States based on net sales. The company employs nearly 60,000 associates who serve customers in 686 grocery stores and 482 in-store pharmacies throughout the eight southeastern states of Alabama, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina and Tennessee. BI-LO and Winn-Dixie are well-known and well-respected regional brands with