August 16, 2023
On August 16, Willkie client Southeastern Grocers Inc., parent company of Fresco y Más, Harveys Supermarket and Winn-Dixie grocery stores, announced it has entered into definitive agreements to sell its business lines to ALDI and Fresco Retail Group, LLC.
Under the proposed merger agreement, ALDI will acquire all outstanding SEG capital stock in an all-cash transaction, which encompasses all SEG grocery operations under the Winn-Dixie and Harveys Supermarket banners. This includes approximately 400 stores in Alabama, Georgia, Louisiana, Mississippi and Florida where 75% of the stores are located. Following the completion of the sale, ALDI will serve the customers and communities of Winn-Dixie and Harveys Supermarkets through the continued operation of the banners’ existing stores.
Concurrently, SEG also agreed to sell its Fresco y Más operations, including all 28 stores and four pharmacies, to Fresco Retail Group, LLC, an investment group strategically focused on food and grocery.
Southeastern Grocers Inc. (SEG) is an omnichannel retailer and supermarket company in the U.S., serving customers throughout Alabama, Florida, Georgia, Louisiana and Mississippi.
The Willkie team was led by partners Adam Turteltaub and Manuel Miranda and included partner Matthew Makover and associates Madison Wiles-Haffner and Michael Manopla.
