LAKELAND, Fla.--(BUSINESS WIRE)--Publix Super Markets Inc. and Lowes Foods, LLC, have announced the companies have entered into an agreement under which Publix is expected to purchase two closed and vacant Lowes Foods stores in North Carolina:
- 1949 Hoffman Road, Gastonia and
- 3480 Kildaire Farm Road, Cary.
The transaction is projected to close later this month and includes two leased store locations and one leased fuel station. Financial terms of the transaction were not disclosed.
“We’ve opened eight stores in North Carolina within the past year, solidifying our commitment to growth within the state,” said Publix CEO Ed Crenshaw. “Our associates continue to provide customers with premier service, quality products and an enjoyable shopping experience. As the largest employee-owned supermarket in the nation, our associates are passionate about serving customers, and meeting and exceeding their expectations. Our service-oriented culture is continuing to foster a loyal customer following in North Carolina and across all our market areas.”
"As a homegrown grocer serving our guests in the Carolinas since 1954, we continue to be excited about the future of Lowes Foods," said Lowes Foods President Tim Lowe. "The sale of these closed and vacant store locations is part of our comprehensive growth strategy that includes accelerating investment in rebranding existing stores, building new stores, and evaluating strategic marketplace opportunities."
Grand opening dates for the two locations will depend on the scope of the remodels. Publix does not intend to operate the fuel station.
Publix is privately owned and operated by its 175,000 employees, with 2014 sales of $30.6 billion. Currently Publix has 1,098 stores in Florida, Georgia, Alabama, Tennessee, South Carolina and North Carolina. The company has been named one of FORTUNE’s “100 Best Companies to Work For in America” for 18 consecutive years. In addition, Publix’s dedication to superior quality and customer service is recognized among the top in the grocery business, most recently by an American Customer Satisfaction Index survey. For more information, visit the company’s website, corporate.publix.com.
Founded in 1954, Lowes Foods employs nearly 9,000 people and operates approximately 95 full-service supermarkets in North Carolina, South Carolina and Virginia. Locally owned and operated, Lowes Foods is truly a homegrown company committed to bringing community back to the table, by providing customers with the freshest and most innovative local products from local suppliers. The company maintains a strong focus on exceptional attention to our guests, with services like Lowes Foods-To-Go personal shopping and gas rewards discounts. To learn more, visit lowesfoods.com or follow Lowes Foods on Facebook or Twitter. Lowes Foods, LLC is a wholly owned subsidiary of Alex Lee, Inc.