Food Lion buys three Farm Fresh stores in greater Hampton Roads
- March 15, 2018
Food Lion, based in Salisbury, N.C., said Thursday that it has made a deal to purchase three Farm Fresh stores in the greater Hampton Roads region from Supervalu. The stores are located at 1615 General Booth Blvd. in Virginia Beach, 608 Mercury Blvd. in Hampton and 683 South Hughes Blvd. in Elizabeth City, N.C.
Food Lion is among several buyers as Supervalu Inc. seeks to divest its Farm Fresh stores. Founded in 1957, Farm Fresh has served Virginia and North Carolina for 60 years and employs 3,300 workers.
Supervalu said Wednesday that it has entered into three separate definitive agreements for about $43 million in cash to sell 21 of its 38 Farm Fresh Food and Pharmacy stores to Harris Teeter, Kroger Mid-Atlantic Division and Food Lion.
Ten stores are being sold to Harris Teeter, including six in-store pharmacies and three fuel centers. Eight stores are being sold to Kroger Mid-Atlantic Division, including eight in-store pharmacies and four fuel center.
Supervalu said it also is continuing discussions and exploring potential transactions to sell the remaining Farm Fresh stores to current and prospective wholesale customers and certain Farm Fresh employees.
"We are so excited to add these three new locations to our network of more than 100 stores serving the greater Norfolk area," Food Lion President Meg Ham said in a statement.
All three of the locations will remain open as Farm Fresh stores until the Food Lion transaction is complete, which is expected in May. Pharmacies at all locations will also remain open through the transition and will be operated by Food Lion once the transaction is complete.
As part of today's announcement, Food Lion said it is donating 3,000 meals to local families for each new store to the food banks that support these communities – the Virginia Peninsula Foodbank, the Foodbank of Southeastern Virginia and the Eastern Shore, and the Food Bank of the Albemarle.
Food Lion plans to assign new store with a feeding agency partner to receive weekly food donations through the company's food rescue program. Through Food Lion Feeds, the company has made a commitment to provide 500 million meals to individuals and families in need by the