date:May 30, 2013
Belgium-based food retailer Delhaize has agreed to sell three U.S. supermarket chains to rival Bi-Lo Holdings for $265 million to simplify its U.S. business and focus more on its larger chains.
Delhaize, which earns some 65 percent of its revenue in the United States, said in a statement late on Tuesday that it would be selling its Sweetbay, Harveys and Reid's operations.
The 165 stores generated revenue of $1.8 billion last year, about 6 percent of Delhaize's overall revenue of 22.7 billion e