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CHARLESTON, S.C. - In a continuation of rapid consolidation in the Southeast, Piggly Wiggly Carolina said last week that it would sell 28 stores - 22 to Bi-Lo Holdings and another six to Harris Teeter.
Financial terms were not disclosed.
Harris Teeter, based in Matthews, N.C., is also acquiring a store site under construction in Isle of Palms, S.C. Harris Teeter said it planned to expand, remodel and re-banner the stores it is buying, which include three locations in Charleston; two stores in Mt. Pleasant, S.C.; and the Newton Farms specialty store, located in Kiawah Island, S.C. Those stores will be closed for three to four days for training and restocking following the closing of the deal, expected in October, Harris Teeter said.
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Bi-Lo Holdings, Jacksonville, Fla., is acquiring 22 Piggly Wiggly locations - 16 in South Carolina and six in Coastal Georgia. The company said it anticipated converting those stores to the Bi-Lo banner following the closing of the deal in the fourth quarter.
The deals continue the rapid pace of food retail consolidation in the Southeast. Harris Teeter is in the process of being acquired by Kroger Co., Cincinnati. Fast-growing Bi-Lo Holdings earlier this year announced plans...