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JACKSONVILLE, Fla. — Bi-Lo Holdings on Thursday announced that it has entered into a definitive agreement with Piggly Wiggly Carolina Co. to acquire 22 Piggly Wiggly stores with approximately 1,200 store employees 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 the fourth quarter of 2013 and is subject to the satisfaction of customary closing conditions. Upon completion of the transaction, the acquired stores will be rebranded under the BI-LO banner name.
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