Ahold Completes BI-LO, Bruno’s Sale
Zaandam, Netherlands, Dutch grocery retailer Ahold has completed the sale of its U.S. retail chains BI-LO and Bruno’s to Lone Star Funds, a Dallas-based private investment firm.
The sale, which was announced late last year, pertains to two major Southeastern regional supermarket chains with a combination of more than 450 locations and 2003 sales of $6.12 billion.
Safeway Applauds Union Pact in Las Vegas
Pleasanton, Calif., Safeway said it was pleased that members of the United Food and Commercial Workers Union Local 711 in the Las Vegas area have ratified a new three-year collective bargaining agreement. The agreement covers approximately 1,500 employees of Safeway-owned Vons stores in and around Las Vegas.
Green Light for Kmart and Sears
New York City New York City , The blockbuster merger of Kmart and Sears cleared the waiting period established by the Hart-Scott-Rodino antitrust law. The waiting period ended yesterday, moving the retailers forward in their merger plans. The chains say they will close their merger in early March, if all goes according to plan. The deal still needs shareholder approval and other regulatory approvals.