Delhaize Buys Harveys

By George Anderson

Delhaize has agreed to purchase the J.H. Harvey chain of supermarkets for $26.1 million in cash and $18 million in assumed accounts payables and short-term liabilities, reports Dow Jones Business News.

Involved in the deal are 43 stores in Georgia and Florida plus a warehouse in Nashville, Ga.

A statement released by Delhaize said, "The (J.H. Harvey) acquisition fills in an area where Food Lion, the largest U.S. banner of Delhaize, has a limited presence."

Delhaize plans to continue operating the Harvey stores under their present banner, bringing the Belgium-based chain's supermarket brands in the US to four. Food Lion, Hannaford and Kash 'n Karry are the company's other holdings in the US.

Moderator's Comment: What will the acquisition of Harveys do for Delhaize? What do you expect Delhaize do to with the chain?

The Dow Jones report said Delhaize does not plan any store closings or layoffs of Harveys' personnel. [George Anderson - Moderator]

• Delhaize Group To Buy Harveys Stores In Georgia And Florida - Dow Jones Business News/Yahoo
• Delhaize acquires Harveys stores in Georgia/Florida - Reuters