Ahold, the Dutch grocery retailer, has announced it has agreed to sell its US retail subsidiaries BI-LO and Bruno’s to an affiliate of the Lone Star Funds for $660m.
BI-LO and Bruno’s are two of the leading food retail chains in the Southeastern region of the US and they have a combination of over 450 supermarkets and they recorded net sales of E4.7bn for 2003.
President and ceo of Ahold, Anders Moberg, said: “Divesting BI-LO and Bruno’s is part of our strategy to optimise our portfolio and strengthen our financial position by reducing debt.”
Lone Star Funds is a US investment company that manages more than $13bn in assets and investments in North America, Europe and Asia.
BI-LO and Bruno’s are two of the leading food retail chains in the Southeastern region of the US and they have a combination of over 450 supermarkets and they recorded net sales of E4.7bn for 2003.
President and ceo of Ahold, Anders Moberg, said: “Divesting BI-LO and Bruno’s is part of our strategy to optimise our portfolio and strengthen our financial position by reducing debt.”
Lone Star Funds is a US investment company that manages more than $13bn in assets and investments in North America, Europe and Asia.
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