BI-LO relinquishes ownership of Bruno’s
Mar 22, 2007 9:36 AM
Lone Star Funds announced that BI-LO LLC will no longer own Bruno’s Supermarkets. The private equity firm will spin off Bruno’s and operate it as a separate corporate entity. According to Lone Star, the reorganization is designed to allow both supermarket chains to invest in their future success and align resources to serve customer needs.
A total of 67 Bruno’s stores in Alabama and Florida are included in this transaction. These stores operate under the Bruno’s, Food World, and Food Max banners. In addition, seven unprofitable Food World/Food Max stores will be closed April 7.
Mauldin SC-based BI-LO will concentrate its efforts and financial resources on a group of more than 230 supermarkets in core markets across its four-state market area. In the past year BI-LO has announced capital investments of more than $160 million in several of its core trade areas.
Bruno’s headquarters will return to Birmingham AL. The chain will have 23 supermarkets under the Bruno’s banner, 42 Food World, and two Food Max stores.
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