WASHINGTON D.C. - The Federal Trade Commission (FTC) has approved a Modified Final Order pertaining to Bi-Lo Holding's $265 million acquisition of 154 Delhaize America locations. Under the new agreement, Bi-Lo is no longer required to divest three of the stores which it had originally been ordered to by the FTC.
After reviewing charges that the acquisition would damage competition in markets in Florida, Georgia and South Carolina, the FTC had previously ordered Bi-Lo to sell 12 of the to-be acquired locations to a predetermined set of buyers. One of these buyers, Rowe's IGA, later decided against purchasing the four Sweetbay stores it was allocated in the FTC's original order. Because Bi-Lo was unable to find a new buyer for three of the four locations, the FTC was required to issue a Modified Order.
According to the Imperial Valley News, the Modified Order says:
- Bi-Lo is freed of its obligation to divest the four locations to Rowe's IGA
- Bi-Lo is required to divest its store in Wauchula to Sunripe Market within 30 days of the finalization of the Modified Order.
Stay tuned to AndNowUKnow as we continue to monitor Bi-Lo's merger negotiations with the FTC.
