The parent company of southern grocery giants Bi-Lo and Winn-Dixie reached an agreement on Thursday to purchase three regional grocery chains- including Harvey’s- for $265 million in cash.
In the purchase, Bi-Lo Holdings brings in 165 total stores (82 Sweetbay, 72 Harveys, and 11 Reid’s), which will bring the total number of Bi-Lo and Winn-Dixie owned locations to nearly 850 nationwide. The purchase is expected to be completed sometime in the fourth quarter of the year.
Officials say all employees will keep their jobs when the purchase goes through, as Harvey’s will continue to operate independently. Read more from Wall Street Journal’s Marketwatch here.