A strategic change to Southeastern Grocers (SEG) has taken place, with the grocer revealing the completion of its divestiture of its Fresco y Más banner to Fresco Retail Group.
“The successful sale of Fresco y Más marks an important milestone on our path forward,” Anthony Hucker, President and Chief Executive Officer of Southeastern Grocers, said. “As we continue to lead our Harveys Supermarket and Winn-Dixie stores, we remain focused on being the Most Preferred Grocer in the Neighborhood and delivering an exceptional grocery shopping experience complete with the quality, service, and value our customers and communities have come to expect.”
As our sister publication AndNowUKnow reported back in August, SEG entered into definitive agreements with Aldi and Fresco Retail Group to effectuate a comprehensive strategic divestiture of its businesses. Under the proposed merger agreement, Aldi is set to acquire all outstanding SEG capital stock in an all-cash transaction, which encompasses all SEG grocery operations under the Harveys Supermarket and Winn-Dixie banners, a press release explained.
With the proposed merger with Aldi anticipated to be complete in the first half of 2024, SEG plans to continue to operate its Harveys Supermarket and Winn-Dixie grocery stores in the normal course of business up to and until the transactions are completed. This includes a network of approximately 400 stores in Alabama, Georgia, Louisiana, Mississippi, and Florida, where 75 percent of the stores are located.
Stick with Deli Market News for further details on this deal and those to come.