Southeastern Grocers Sells Off Fresco y Mas

Southeastern Grocers (SEG) has completed its strategic divestiture of Fresco y Mas to Fresco Retail Group. SEG continues to own and operate Harveys Supermarket and Winn-Dixie grocery stores ahead of its merger with Aldi.

Fresco Retail Group is a Florida-based investment group that specializes in the food and grocery industries. The 28 Fresco y Mas stores and four pharmacies will continue to operate as they presently do, under the same name.

In August, SEG announced definitive agreements to sell its grocery chains to Aldi and Fresco Retail Group. Under the proposed merger agreement, Aldi will soon acquire all outstanding SEG capital stock in an all-cash transaction, which includes all grocery operations under the Harveys and Winn-Dixie banners, according to a media release. 

SEG currently expects that the proposed merger with Aldi will be completed in the first half of 2024. SEG will continue to operate its Harveys and Winn-Dixie stores as normal up to and until those transactions are completed. This includes about 400 stores in Alabama, Georgia, Louisiana, Mississippi and Florida where 75% of the stores are located. 

Aldi said in August that it will evaluate which locations to convert to its format, and will continue to operate the remaining stores as Winn-Dixie and Harveys.

“The successful sale of Fresco y Mas marks an important milestone on our path forward,” Anthony Hucker, president and CEO of SEG said in the release. “As we continue to lead our Harveys Supermarket and Winn-Dixie stores, we remain focused on being the Most Preferred Grocer in the Neighborhood and delivering an exceptional grocery shopping experience complete with the quality, service and value our customers and communities have come to expect.”