Bi-Lo Holdings, Delhaize Group moving forward on acquisition deal
JACKSONVILLE, Fla. — Bi-Lo Holdings and Delhaize Group on Tuesday announced they have received approval from the Federal Trade Commission to proceed with the transaction in which Bi-Lo Holdings will acquire substantially all of the stores in the Sweetbay, Harveys and Reid’s supermarket chains from Delhaize.
Bi-Lo Holdings agreed to divest 12 Delhaize America stores in the states of Fla., Ga., and S.C., and Delhaize Group has agreed to retain two additional stores and convert them to the Food Lion banner, pursuant to a consent order accepted by the FTC for public comment on Feb. 25. The order is subject to final approval by the FTC after the close of a 30-day comment period.
“We have been preparing for the integration of the Sweetbay, Harveys and Reid’s banners and store associates for many months and are delighted to now move forward and welcome them to the Bi-Lo Holdings family,” said Randall Onstead, president and CEO of Bi-Lo Holdings.
Bi-Lo Holdings also announced its decision to close eight of the acquired Delhaize America and five Bi-Lo Holdings stores due to close geographic proximity. “Given the number of stores we are acquiring, we anticipated that we may be asked by the FTC to divest some stores to close the deal. In addition, with the close proximity of some of the Bi-Lo Holdings and Delhaize stores, we also knew that we would have to close a few stores as part of the acquisition,” Onstead said.
Bi-Lo Holdings initially acquired the Sweetbay, Harveys and Reid’s chains from Delhaize for $265 million in May of 2013. The deal at the time included 72 Sweetbay stores, leases for 10 prior Sweetbay locations, 72 Harveys stores and 11 Reid’s stores, for a total of 165 stores throughout the Southeast.
Albertson’s LLC and New Albertson’s promote Navarro, name new CFO
BOISE, Idaho — AB Acquisition LLC, which operates Albertson’s LLC and New Albertson’s Inc., has appointed Rick Navarro, who had been the company’s CFO since its inception in 2006, as chief administrative officer. Succeeding Navarro as the company’s CFO is former Nash Finch executive Robert Dimond.
In his new role, Navarro will oversee the IT, legal, business development, human resources and public affairs functions.
Dimond brings 24 years of financial and senior executive management experience in the grocery and distribution industry. Dimond most recently served as EVP, CFO and treasurer at Nash Finch, a food distribution and retail company. In that role, Dimond was responsible for all of the company’s financial functions, and he also served as the primary contact for all investor relations, investment and commercial banking activities.
Prior to Nash Finch, Dimond was with Wild Oats Markets as CFO and SVP from April 2005 to December 2006, and he also served as group VP and CFO for the western region of Kroger, as well as VP, administration and controller for Smith’s Food and Drug Centers.
“Our decentralized operating structure requires executives with entrepreneurial mindsets, and the work that Rick and Bob have done in their careers exemplify that trait,” said Bob Miller, CEO of Albertsons. “Our leadership teams at Albertson’s LLC and New Albertson’s Inc. have done a phenomenal job positioning our stores for the future, and both Rick and Bob are capable executives who will help our company to capitalize on that as we look to grow for the future.”
Kroger names president of QFC division
CINCINNATI — Kroger on Tuesday announced Dennis Gibson has been promoted to president of the QFC division. He succeeds Joe Fey, who was named president of Kroger’s Mid-Atlantic division in January.
Gibson, 58, has been serving as VP merchandising in Kroger’s Columbus division.
"Dennis’s experience in both merchandising and retail operations make him a great fit to lead the QFC team," said Mike Ellis, Kroger’s president and COO. "Dennis is a strong executive with tremendous dedication to our customers and commitment to our associates. We look forward to the leadership and expertise he will bring to the division."
Gibson brings 38 years of retail industry experience to his new role. He began his career in 1976 with Grand Central discount department stores in Salt Lake City, Utah. He joined Fred Meyer in 1984, where he held leadership roles of increasing responsibility for the next 27 years, including store and district management, regional director and group VP for store operations. In 2011, Gibson was named VP operations in Kroger’s Columbus Division, and in 2013 he was named to VP merchandising.
Gibson and his family will relocate to Seattle. QFC operates 66 stores in Oregon and Washington. It is headquartered in Seattle.