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Retail conglomerate Delhaize Group is interested in selling two of its U.S. banners, Sweetbay Supermarket and Harveys, as part of an ongoing cost-cutting initiative, according to a published report from Reuters, citing “two sources familiar with the matter.”
Delhaize has hired global advisory investment bank Lazard Ltd. to sell the banners, the report said. At Delhaize’s recent annual shareholders meeting, CEO Pierre-Olivier Beckers, who earlier this month revealed plans to retire by the end of the year, noted that the company was considering various options in relation to its businesses, but declined to comment directly on a sale.
When contacted by PG for comment, Christy Phillips-Brown, director, external communications & community relations at Salisbury, N.C.-based Delhaize America, responded: “While we don’t comment on market rumors or speculation, we continually review our portfolio, as appropriate.”
The report comes in the wake of the company’s ongoing restructuring efforts, which have resulted in multiple layoffs and store closures, including more than 30 underperforming Sweetbay stores.
Harveys operates 73 supermarkets in Georgia, South Carolina and Florida, while Sweetbay’s remaining locations are all in Florida.