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Article: Food Lion Strengthens with Purchase of Hannaford Bros..

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Knight Ridder/Tribune Business News
Article date:
August 20, 1999
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Knight Ridder/Tribune Business News

Aug. 19 -- In a move that would strengthen its already-dominant position as the region's top grocery store chain, the parent company of Food Lion Inc. agreed Wednesday to buy Hannaford Bros. Co. for $3.6 billion.

Food Lion vowed to maintain Hannaford's brand identity, keeping separate management teams, headquarters and strategies for serving different segments of the market.

"We look forward to building the Hannaford brand and expanding our platform of multi-format stores under one organization," said Bill McCanless, president and chief executive officer of Food Lion.

However, analysts speculated ...

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