Delhaize completes sale of Sweetbay, Harveys and Reid's operations to Bi-Lo Holdings for US$246M
June 2, 2014
– Delhaize Group (Euronext Brussels: DELB, NYSE: DEG) announces today that it has completed the divestment of the Sweetbay, Harveys and Reid's operations to Bi-Lo Holdings for a cash amount of $246 million, subject to customary post-closing adjustments.
Delhaize Group also completed, in a separate transaction, the sale of its distribution center in Plant City, Florida to C&S Wholesale Grocers for an amount of $28 million.
» Delhaize Group
Delhaize Group is a Belgian international food retailer present in nine countries on three continents. At the end of the first quarter of 2014, Delhaize Group's sales network consisted of 3 520 stores. In 2013, Delhaize Group posted €21.1 billion in revenues and €179 million in net profit (Group share). At the end of 2013, Delhaize Group employed approximately 160 000 people. Delhaize Group's stock is listed on NYSE Euronext Brussels (DELB) and the New York Stock Exchange (DEG).
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cautionary note regarding forward looking statements
Statements that are included or incorporated by reference in this press release and other written and oral statements made from time to time by Delhaize Group and its representatives, other than statements of historical fact, which address activities, events and developments that Delhaize Group expects or anticipates will or may occur in the future, including, without limitation, the financial flexibility that will result from the sale of Sweetbay, Harveys and Reid's to Bi-Lo Holdings; the ultimate value of the transaction to Delhaize Group after working capital adjustments, the expected effect of the portfolio optimization, , strategic options, future strategies and the anticipated benefits of these strategies, are "forward-looking statements" within the meaning of the U.S. federal securities laws that are subject to risks and uncertainties. These forward-looking statements generally can be identified as statements that include phrases such as "guidance," "outlook," "projected," "believe," "target," "predict," "estimate," "forecast," "strategy," "may," "goal," "expect," "anticipate," "intend," "plan," "foresee," "likely," "will," "should" or other similar words or phrases. Although such statements are based on current information, actual outcomes and results may differ materially from those projected depending upon a variety of factors, including, but not limited to, changes in the general economy or the markets of Delhaize Group, in strategy, in consumer spending, in inflation or currency exchange rates or in legislation or regulation; competitive factors; adverse determination with respect to claims; inability to timely develop, remodel, integrate, open, convert or close stores; and supply or quality control problems with vendors. Additional risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements are described in Delhaize Group's most recent Annual Report on Form 20-F and other filings made by Delhaize Group with the U.S. Securities and Exchange Commission, which risk factors are incorporated herein by reference. Delhaize Group disclaims any obligation to update developments of these risk factors or to announce publicly any revision to any of the forward-looking statements contained in this release, or to make corrections to reflect future events or developments.