Southeastern Grocers has completed its strategic divestiture of Hispanic grocery store Fresco y Más to Florida-based investment group Fresco Retail Group. The decision was part of Aldi’s acquisition of the supermarket giant.
The Harveys Supermarket and Winn-Dixie grocery banners are not part of the transaction with Fresco Retail Group, and the retailer will continue to operate them until the acquisition is completed.
“The successful sale of Fresco y Más marks an important milestone on our path forward,” said Anthony Hucker, president and CEO of Southeastern Grocers, in a statement. “As we continue to lead our Harveys Supermarket and Winn-Dixie stores, we remain focused on being the Most Preferred Grocer in the Neighborhood and delivering an exceptional grocery shopping experience."
In August, the grocery group entered into definitive agreements with Aldi and Fresco Retail Group to divest part of its businesses before merging with Aldi. Under the proposed agreement, Aldi will acquire all outstanding Southeastern Grocers capital stock in an all-cash transaction, encompassing the grocery operations under the Harveys Supermarket and Winn-Dixie banners.
The acquisition agreement includes approximately 400 Southeastern Grocers stores in Alabama, Georgia, Louisiana, Mississippi, and Florida. Southeastern Grocers anticipates the proposed merger will be completed in the first half of this year.
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