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December 27, 2004
Ahold To Sell Two Grocery Chains
Netherlands-based Royal Ahold has entered into an agreement to sell two U.S.-based regional supermarket chains.
An affiliate of Lone Star Funds, a private equity group, will acquire the Bi-Lo and Bruno’s grocery chains for up to $660 million in cash, depending on the stores’ post-transaction performances. The deal is expected to close in the first quarter of 2005.
BI-LO and Bruno’s both operate in the southeast United States. Combined, they total more than 450 stores.
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