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Piggly Wiggly Carolina Company, Inc. announced Thursday it will sell 28 stores. Six will be sold to Harris Teeter with the remaining 22 being sold to Bi-Lo Holdings, LLC, parent company of the BI-LO and Winn-Dixie grocery store chains. Financial terms of the transactions were not disclosed.
All 28 stores will be rebranded under their respective buyers’ banners. Harris Teeter store brands include Harris Teeter Brand, HT Traders, Harris Teeter Organics, Harris Teeter yourpet, Harris Teeter yourbaby and yourtot, and Harris Teeter yourhome. Bi-Lo store brands include Topco brands, as well as Check Soda, Southern Home, Walter’s produce, BI-LO Signature Deli, Lip-Lickin’ Chicken, and more.
Bi-Lo Holdings will acquire 16 Piggly Wiggly stores in South Carolina and six in Georgia, along with approximately 1,200 store employees.
“We look forward to welcoming these new associates to the Bi-Lo Holdings family and to building on the strength of these stores,” said Randall Onstead, president and CEO of Bi-Lo Holdings in a press release. “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.”
The transaction is expected to close in the fourth quarter of 2013 and is subject to the satisfaction of customary closing conditions. Upon completion of the transaction, the acquired stores will be rebranded under the BI-LO banner name.
Harris Teeter Supermarkets, Inc.’s operating subsidiary, Harris Teeter, Inc., will purchase six Piggly Wiggly store locations and one future store location in the Charleston, S.C. area.
The transaction is expected to be completed in October 2013. Harris Teeter plans to close the acquired stores for three to four days for stocking and training of employees. The pharmacies at the acquired stores will remain open throughout the transition.
Thomas W. Dickson, chairman of the board, and CEO, commented that, "Piggly Wiggly has a long tradition of operating customer-friendly stores in Charleston. These store locations and the dedicated associates who work in them make this an especially attractive transaction for Harris Teeter. We plan to remodel and expand a number of these locations to create brand new Harris Teeter stores to serve our customers. Charleston is a growing and vibrant market, and we look forward to continuing to expand our presence in the region."