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Article: FOOD LION TO ACQUIRE FOOD FAIR
- Article from:
- PR Newswire
- Article date:
- January 12, 1996
CopyrightCOPYRIGHT 1996 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SALISBURY, N.C., Jan. 12 /PRNewswire/ -- Food Lion, Inc. (Nasdaq-NNM: FDLNA FDLNB) has signed an agreement to purchase the assets of Food Fair of North Carolina, Inc., the Winston-Salem-based supermarket chain. The agreement, signed yesterday in Salisbury, involves eleven Food Fair stores, their inventory and equipment. The deal will be finalized in March.
"Food Lion's growth strategy, announced in early 1995, provides for the company's expansion through new construction, remodels and acquisitions, where appropriate," said Tom Smith, Food Lion President and Chief Executive Officer. "The purchase of Food Fair's assets provides us with the unique opportunity to grow ...