New York -- In separate announcements on Thursday, Bi-Lo Holdings and Harris Teeter on Thursday announced plans to acquire select Piggly Wiggly-branded stores.
Bi-Lo said it has entered into a definitive agreement with Piggly Wiggly Carolina Company to acquire 22 Piggly Wiggly stores in South Carolina and coastal Georgia.
Financial terms of the transaction were not disclosed.
"We look forward to welcoming these new associates to the Bi-Lo Holdings family and to building on the strength of these stores," stated Randall Onstead, president and CEO of Bi-Lo Holdings. "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 fourth quarter 2013. Upon completion of the transaction, the acquired stores will be rebranded under the Bi-Lo banner name.
Harris Teeter Supermarkets said that its operating subsidiary, Harris Teeter, has entered into an agreement with Greenbax Enterprises, Inc. (“Piggly Wiggly”) to 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.
Thomas W. Dickson, chairman of the board, and CEO stated: “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.”