Southeastern Grocers Announces Sale of BI-LO Stores
CHARLESTON, SC - Southeastern Grocers, the parent company of BI-LO and several other grocery store brands, announced it has sold 23 additional stores as part of its plan to divest the brand.
Twenty of the stores have been sold to Alex Lee and two BI-LO stores and one Harveys Supermarket have been sold to B&T Foods, according to Southeastern Grocers Corporate Communications Manager Joe Caldwell.
“The company will begin the transition of these stores to Alex Lee, Inc., and B&T Foods later this month, and the process is expected to conclude in November,” Caldwell said. “Southeastern Grocers will continue to assess options for the remaining BI-LO stores, including other potential transactions.”
This news follows Southeastern Grocers’ divestment plans of the BI-LO and Harveys Supermarkets stores. According to the release obtained by local news source WCSC, Alex Lee plans to operate 15 of the stores under the KJ’s Market IGA brand and five stores under the Lowes Foods brand.
“We are excited to add these new locations to our retail store portfolio,” Alex Lee President and CEO Brian George said. “We have an opportunity to accelerate our growth in these markets while continuing to provide shoppers with a unique grocery shopping experience in their local communities.”
Alex Lee News Media Contact Scott Carpenter commented to WCSC that the stores will remain open as BI-LO stores until the transaction is complete, which is expected to take place over a staggered period from September to November 2020, pending customary closing requirements.
A list of locations involved in the Alex Lee purchase includes four Lowcountry locations:
- 3125 Bees Ferry Road, Charleston, will become a Lowes Foods store
- 1000 Tanner Ford Blvd., Hanahan, will become a Lowes Foods store
- 110 South Highway 52, Suite B, Moncks Corner, will become a KJ’s Market IGA store
- 3575 Maybank Highway, Unit L, Johns Island, will become a KJ’s Market IGA store
Alex Lee expects to hire more than 2,000 employees to continue to serve the communities where the 20 stores are located, Carpenter commented. Prior to the completion of the transaction, Alex Lee plans to meet with current BI-LO employees in those stores to discuss employment opportunities.
As the retail landscape continues to change, ANUK will report on the latest.