Ahold sells BI-LO and Bruno's chains
Global food retailer Royal Ahold NV said Thursday it will sell two of its U.S. grocery chains, BI-LO and Bruno's, to Dallas-based Lone Star Funds for $560 million in cash.
They said they were going to announce it Thursday. They've been saying that for several months now, just never told us which Thursday. Turns out today was the day.
Some of you know I work for Ahold. I've done a small amount of work for the Bi-Lo and Bruno's chains. I expect I'll do a little bit more work for them as the de-coupling process continues. I can't imagine this sale will be finalized until the end of the first quarter of 2005.
I do a lot more work for the other Ahold Chains (Giant-C, Tops, S&S, Giant-L) so I don't really think this sale will affect my job.
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