Hy-Vee to enter Twin Cities market
WEST DES MOINES, Iowa — Grocer Hy-Vee, which operates 235 stores in eight states, is planning a major expansion of its Minnesota operations into the Twin Cities market.
The proposed expansion would add several new stores to the Twin Cities market per year, over the next several years. Each store opened will be approximately 90,000-square foot, with an investment of approximately $14 million to $16 million, creating anywhere from 400 to 550 new jobs.
The company has one location under contract in the Twin Cities area, with several more projects in various stages of research and development.
Hy-Vee has been a fixture in Minnesota communities since 1969 and currently has 17 employee-owned stores statewide with approximately 5,100 employees.
“Our commitment to excellent customer service, health and wellness, and culinary expertise is unlike anything in the market to date,” stated Randy Edeker, chairman, CEO and president of Hy-Vee. “Minnesota and its residents have long been important partners, and we are proud to extend that partnership into the Twin Cities area.”
Hy-Vee is an employee-owned corporation that recorded sales of $8 billion for 2013.
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.”