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Delhaize to sell Bottom Dollar stores to Aldi for $15 million
Brussels, Belgium -- Delhaize Group has signed an agreement to sell its Bottom Dollar Food stores to deep-discount grocer Aldi Inc. for approximately $15 million, including the assumption of associated lease liabilities. The transaction, which involves 66 Bottom Dollar stores in the greater Philadelphia and Pittsburgh markets, is expected to result in an asset impairment and other charges for Delhaize Group of approximately $180 million. -
Delhaize bails on Bottom Dollar
ALDI is accelerating its growth and dramatically increasing its presence in the Northeast with the acquisition of 66 Bottom Dollar Food stores from Delhaize Group.
Delhaize said it reached an agreement to sell its 66 Bottom Dollar stores in the greater Philadelphia and Pittsburgh markets for $15 million and associated lease liabilities. Delhaize said it would take an asset impairment charge of $180 million in conjunction with the sale.
