FINANCE

Belgium’s Delhaize to acquire BI-LO assets

BY CSA STAFF

Brussels, Belgium Belgian international food retailer Delhaize Group has reached an agreement to buy $425 million of assests from Mauldin, S.C.-based BI-LO, a grocery chain that entered bankruptcy proceedings earlier this year. The deal would combine one of the largest food retailers in North Carolina and South Carolina with a smaller rival, and strengthen Delhaize’s ability to compete with Wal-Mart.

Delhaize Group has entered into a non-binding letter of intent to acquire “a substantial majority” of BI-LO’s assets. The company said it intends to integrate Bi-Lo, which has 214 stores in the Carolinas, Tennessee and Georgia and recorded more than $2 billion in sales in 2008, into its Food Lion division. Food Lion operates more than 1,300 stores in 11 states.

BI-LO filed for protection under Chapter 11 of the U.S. Bankruptcy code in March. It has come under pressure recently from its creditors to reorganize.

“We at Food Lion, LLC have great admiration for the associates and stores at BI-LO,” Rick Anicetti, CEO of Food Lion, said in a statement. “We believe our markets and service philosophy are complementary and we look forward to continuing our discussions with BI-LO.”

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Dollar General partners with Lysol/Air Wick for literacy campaign

BY CSA STAFF

GOODLETTSVILLE, Tenn. Dollar General has partnered with Lysol and Air Wick to raise money for its literacy charity.

For every Lysol and Air Wick product purchased at Dollar General from Oct. 2 through Nov. 13, 5 cents will be donated by Reckitt Benckiser to the Dollar General Literacy Foundation, up to $150,000. In addition, customers can mail Dollar General receipts for Lysol or Air Wick purchases to Dollar General Literacy and a $1 donation will be made by Reckitt Benckiser to the Dollar General Literacy Foundation, up to $10,000.

 

“We encourage shoppers to participate in Dollar General’s mission of Serving Others through the Improving Lives program,” said Rick Dreiling, Dollar General’s Chairman and CEO. “Improving Lives is an easy way to make a difference through everyday purchases of Lysol and Air Wick products. We’re excited about positively changing lives through this program.”

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Walgreens SVP pharmacy innovation, purchasing to leave company

BY CSA STAFF

DEERFIELD, Ill. Walgreens announced that George Riedl, SVP pharmacy innovation and purchasing, will leave the company at the end of the year.

Since March, Riedl has overseen the rollout of a new pharmacy system in Florida and Arizona that centralizes administrative tasks and provides store pharmacists more time for patient counseling and other clinical services. With rollout of the system complete in Florida and nearing full implementation in Arizona, Riedl will finalize his transition from the company over the coming months.

“With the confidence I have in the direction of the company’s pharmacy operations and in Walgreens future as a whole, this is the right time for me to move on to other opportunities,” said Riedl. “I look forward to the challenges that lay ahead.”

Walgreens president and CEO Greg Wasson said, “During his 27 years with Walgreens, George has played a key role in several areas, including marketing, merchandising, purchasing and pharmacy services. We appreciate all he has done for the company during that time and for his willingness to stay on during this transition period. George’s outstanding leadership skills in developing and motivating staff will benefit our company for years to come. We wish him the best in his future endeavors.”

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