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Article: Hannaford Sells Majority Interest in HomeRuns.com.

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Business Wire
Article date:
January 13, 2000
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Business Editors

SCARBOROUGH, Maine--(BUSINESS WIRE)--Jan. 13, 2000

Hannaford Bros. Co. (NYSE:HRD), multi-regional food retailer, reported today that it has entered into an agreement with The Cypress Group L.L.C., a New York-based private equity firm, to sell a majority interest in HomeRuns.com, its internet-based grocery delivery service, through a $100 million investment and recapitalization. The transaction, which is expected to close in February, represents the largest single investment ever made in a supermarket-sponsored online grocer.

HomeRuns.com also announced that, upon the close of the transaction, Robert J. Tarr, Jr., former CEO of ...

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