Ahold sells BI-LO and Bruno's to Lone Star
BI-LO and Bruno's are two of the leading food retail chains in the southeastern region of the United States.
31/01/05 The Netherlands, Ahold has announced it has completed the sale of its U.S. retail subsidiaries BI-LO and Bruno's to an affiliate of Lone Star Funds.
Ahold and Lone Star Funds successfully closed the transaction, which was announced on December 23, 2004. Completion was subject to the fulfillment of customary closing conditions, including antitrust approval.
BI-LO and Bruno's are two of the leading food retail chains in the southeastern region of the United States with a combined store count of over 450 supermarkets and combined 2003 net sales of approximately EUR 4.7 billion.
Lone Star Funds, based in Dallas, Texas, is a leading U.S. private investment company that manages more than USD 13 billion in assets and investments in North America, Europe and Asia.
Ahold acquired BI-LO, headquartered in Mauldin, South Carolina, in 1977. The company operates 287 stores in South Carolina, North Carolina, Georgia and Tennessee. BI-LO employs approximately 23,000 associates. Ahold acquired Bruno's, based in Birmingham, Alabama, in 2001. The company operates 168 stores in Alabama, Florida, Georgia and Mississippi. Bruno's employs approximately 11,500 associates.
