Ahold completes sale of BI-LO and Bruno’s to Lone Star
Zaandam, The Netherlands, January 31, 2005 – Ahold today announced it
has completed the sale of its U.S. retail subsidiaries BI-LO and Bruno’s
to an affiliate of Lone Star Funds.
Ahold and Lone Star Funds successfully closed the transaction, which was announced
on December 23, 2004. Completion was subject to the fulfillment of customary
closing conditions, including antitrust approval.
BI-LO and Bruno’s are two of the leading food retail chains in the southeastern
region of the United States with a combined store count of over 450 supermarkets
and combined 2003 net sales of approximately EUR 4.7 billion.
“We are pleased to be able to complete the divestment of BI-LO and Bruno’s
to Lone Star as planned,” said Ahold President and CEO Anders Moberg.
“This transaction is part of our strategy to optimize our portfolio and
strengthen our financial position by reducing debt. We are nearing completion
of our divestment program ahead of time and are well on our way along the Road
to Recovery,” he concluded.
Lone Star Funds, based in Dallas, Texas, is a leading U.S. private investment
company that manages more than USD 13 billion in assets and investments in North
America, Europe and Asia.
Ahold acquired BI-LO, headquartered in Mauldin, South Carolina, in 1977. The
company operates 287 stores in South Carolina, North Carolina, Georgia and Tennessee.
BI-LO employs approximately 23,000 associates. Ahold acquired Bruno’s,
based in Birmingham, Alabama, in 2001. The company operates 168 stores in Alabama,
Florida, Georgia and Mississippi. Bruno’s employs approximately 11,500
associates.