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Home»News»ALDI buys Southeastern Grocers, won’t be building new store in Douglas
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ALDI buys Southeastern Grocers, won’t be building new store in Douglas

Staff ReportsBy Staff ReportsAugust 16, 2023415 Views
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The West Ward Street Harveys location
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  • Today, ALDI and Fresco Retail Group LLC agreed to purchase Southeastern Grocers Inc. (SEG), the parent company of Fresco y Mas, Harveys Supermarkets, and Winn-Dixie. That transaction is going to have far-reaching effects in Douglas. 
  • Because of the purchase, ALDI, which had planned to build a store on the property directly south of Tractor Supply, will not be building in Douglas. The two Harveys, which had they remained under SEG, were transitioning to Winn-Dixie stores, will remain open. However, it remains unclear under which badge they will operate. They could remain Harveys, become Winn-Dixie stores as planned, or operate as ALDI locations. It is also possible that they may operate under different names. Those decisions remain forthcoming.
  • SEG issued a press release announcing the agreement earlier today. The press release is below: 
  • Southeastern Grocers Inc. (SEG), parent company of Fresco y Más, Harveys Supermarket and Winn-Dixie grocery stores, today announces it has entered into definitive agreements with ALDI and Fresco Retail Group, LLC to effectuate a comprehensive strategic divestiture of its businesses.
  • Under the proposed merger agreement, ALDI will acquire all outstanding SEG capital stock in an all-cash transaction, which encompasses all SEG grocery operations under the Winn-Dixie and Harveys Supermarket banners. This includes approximately 400 stores in Alabama, Georgia, Louisiana, Mississippi and Florida where 75% of the stores are located. Following the completion of the sales process, ALDI will serve the customers and communities of Winn-Dixie and Harveys Supermarkets through the continued operation of the banners’ existing stores. The retailer will also evaluate which locations will convert to the ALDI format. For those stores that are not converted, ALDI intends for them to continue to operate as Winn-Dixie and Harveys Supermarket stores.
  • Concurrently, SEG has agreed to divest its Fresco y Más operations. SEG anticipates that the sale of the Fresco y Más banner will be consummated in the first quarter of 2024. The Fresco y Más banner, including all 28 stores and four pharmacies, will be sold to Fresco Retail Group, LLC, an investment group strategically focused on food and grocery. Fresco Retail Group, LLC plans for all stores and pharmacies in the Fresco y Más banner to continue operating as they are presently.
  • Anthony Hucker, President and CEO of Southeastern Grocers, said, “Our successful transformational journey has created a unique opportunity with leading partners who share our vision and common commitments to creating value for their customers. We believe these next steps will fuel a phenomenal experience for our customers, new opportunities for our associates and increased value for our shareholders. As the sales processes proceed, we’ll stay acutely focused upon delivering the exceptional quality, service and value that our customers and communities have come to expect from us.”
  • The merger agreement has been approved by the holders of a majority of SEG’s outstanding shares, and the merger is expected to close in the first half of 2024, subject to regulatory approvals and customary closing conditions. SEG will continue to operate its respective banners and stores in the normal course of business up to and until the transactions are completed. 

 

 

RBC Capital Markets, LLC served as financial advisor to SEG. Willkie Farr & Gallagher LLP was transaction counsel and Kirkland & Ellis LLP served as antitrust counsel to SEG. For continued updates, as well as additional assets to assist in media coverage, please visit www.segrocers.com/updates. 

ALDI Coffee County Georgia Douglas Georgia Harveys Southeastern Grocers WinnDixie
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