Delhaize Group announced yesterday that it has reached an agreement to sell all 66 Bottom Dollar Food stores to Aldi for approximately $15 million. 46 of the stores are in the Philadelphia region.
Bottom Dollar will continue to operate its stores until the end of the year, at which time all the stores will close. The transaction is expected to be completed by the end of March, 2015.
Aldi, which will assume all of Bottom Dollar’s lease liabilities, has not yet announced its plans for the 66 stores.
Related story (8/19/2014): Delhaize may pull the plug on Bottom Dollar