Delhaize Group said Monday that it had completed the divestment of its Sweetbay, Harveys and Reid’s stores to Bi-Lo Holdings for $246 million in cash, subject to post-closing adjustments. That deal was first announced a year ago and has been closing in a series of transactions over several months.
The retailer also said it also completed, in a separate transaction, the sale of its former Sweetbay distribution center in Plant City, Fla., to C&S Wholesale Grocers for an amount of $28 million.
Bi-Lo this week is expected to complete the conversion of the final group of acquired stores to its Winn-Dixie and Bi-Lo banners.
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