Delhaize Group : Delhaize Group announces agreement on sale of Sweetbay, Harveys and Reid's
(Thomson Reuters ONE) -
BRUSSELS, Belgium, May 28, 2013 - Delhaize Group (Euronext Brussels: DELB, NYSE:
DEG), the Belgian international food retailer, announces that it has reached an
agreement with Bi-Lo Holdings, LLC ("Bi-Lo Holdings") on the divestiture of
Sweetbay (72 stores), Harveys (72 stores), and Reid's (11 stores).
Delhaize Group announces that it has signed an agreement with Bi-Lo Holdings to
divest its Sweetbay, Harveys, and Reid's operations for $265 million in cash. As
part of the transaction, Bi-Lo Holdings will also acquire leases for 10 prior
Sweetbay locations. Delhaize will retain Sweetbay's distribution center. In
2012, the 165 stores included in the transaction generated revenues of
approximately $1.8 billion.
"We would like to thank the associates of Sweetbay, Harveys, and Reid's for
their ongoing commitment and accomplishments throughout the years." said
Delhaize Group CEO Pierre-Olivier Beckers. "We believe this transaction
represents a significant move towards simplifying our business and will allow
for even greater focus at Delhaize America. The transaction will further
increase the financial flexibility required to execute our strategic
priorities."
The transaction is expected to close in the fourth quarter of 2013 and is
subject to regulatory approval as well as customary closing conditions and
working capital adjustments. Lazard acted as financial advisor to Delhaize Group
for this transaction.
» Delhaize Group
Delhaize Group is a Belgian international food retailer present in ten countries
on three continents. At the end of the first quarter of 2013, Delhaize Group's
sales network consisted of 3,411 stores. In 2012, Delhaize Group posted ?22.6
billion ($29.0 billion) in revenues and ?104 million ($134 million) in net
profit (Group share). At the end of 2012, Delhaize Group employed approximately
158,000 people.
This press release is available in English, French and Dutch. You can also find
it on the website http://www.delhaizegroup.com. Questions can be sent to
investor(at)delhaizegroup.com.
» Contacts
Investor Relations: + 32 2 412 2151
Media Relations - Belgium: + 32 2 412 8669
Media Relations - U.S.: + 1 704 310 2221
Press release in Pdf:
http://hugin.info/133961/R/1705302/564086.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Delhaize Group via Thomson Reuters ONE
[HUG#1705302]
Unternehmensinformation / Kurzprofil:
Datum: 28.05.2013 - 22:16 Uhr
Sprache: Deutsch
News-ID 264124
Anzahl Zeichen: 3186
contact information:
Town:
Brussels
Kategorie:
Business News
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