Delhaize Buys Harveys

Discussion
Sep 03, 2003
George Anderson

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
]

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