2023-08-16 20:14:32
Low-cost retail chain Aldi announced on Wednesday that it had reached a “definitive agreement” with Southeastern Grocers to buy nearly 400 stores in the southeastern United States, and plans to add 120 across the country. country this year.
The affected stores carry the Winn-Dixie and Harveys Supermarket brands.
“The period was opportune to continue to build thanks to our growth momentum and to help the inhabitants of the south-east to save on their receipts at the supermarket”, noted Jason Hart, boss of Aldi, quoted in a press release.
The amount of the transaction, which should be finalized in the first half of 2024 following obtaining regulatory approvals, has not been specified.
“This merger agreement is the legacy of the success of our transformation,” commented Anthony Hucker, boss of Southeastern Grocers, quoted in the press release.
Aldi explains that it first set foot in the southeastern United States in the mid-1990s and has since invested $2.5 billion there. He plans to open around twenty stores there under his own name by the end of the year.
Of the 400 supermarkets it intends to absorb – of which 299 are in Florida – an as yet undetermined number will switch to Aldi, the group said.
Besides Florida, these coveted stores are in Alabama (39), Georgia (25), Louisiana (28) and Mississippi (6).
This proposed acquisition “represents a further example of the consolidation of supermarkets in the United States, at a time when margins and sales are increasingly under pressure”, commented Neil Saunders, director of GlobalData, qualifying it of “unusual” for Aldi which generally prefers organic growth to external growth.
According to him, this transaction comes as a “relief” for Southeastern Grocers “which has struggled to be competitive for many years”.
“Under the Aldi umbrella, these stores are going to have access to more finance and a ruthlessly efficient supply chain that will drive down costs,” he added.
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