Southeastern Grocers: completes strategic divestiture

Jacksonville / FL. (seg) Southeastern Grocers Inc. (SEG) announces the completion of its strategic divestiture of «Fresco y Más» to Fresco Retail Group LLC. SEG continues to own and operate Harveys Supermarket and Winn-Dixie grocery stores. SEG President and CEO Anthony Hucker: «The successful sale of Fresco y Más marks an important milestone on our path forward. As we continue to lead our Harveys Supermarket and Winn-Dixie stores, we remain focused on being the Most Preferred Grocer in the Neighborhood and delivering an exceptional grocery shopping experience complete with the quality, service and value our customers and communities have come to expect.»

As previously announced in August, SEG entered into definitive agreements with Aldi Inc. and Fresco Retail Group to effectuate a comprehensive strategic divestiture of its businesses. Under the proposed merger agreement, Aldi Inc. will acquire all outstanding SEG capital stock in an all-cash transaction, which encompasses all SEG grocery operations under the Harveys Supermarket and Winn-Dixie banners – see also «Aldi U.S. to Acquire Winn-Dixie and Harveys Supermarket» on August 17, 2023.

SEG currently anticipates that the proposed merger with Aldi Inc. will be completed in the first half of 2024. SEG will continue to operate its Harveys Supermarket and Winn-Dixie grocery stores in the normal course of business up to and until the transactions are completed. This includes approximately 400 stores in Alabama, Georgia, Louisiana, Mississippi and Florida where 75% of the stores are located.

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