The Belgian parent company of Bottom Dollar Foods, Delhaize Group, announced today it will sell its 66 locations in the Pittsburgh and Philadelphia regions to Aldi. The agreement priced the sale of the 66 locations at $15 million.
There are 20 Bottom Dollar Food stores in the greater Pittsburgh area, including a location at 5200 Penn Avenue that opened in June of this year. Plans for its future are unclear. Stores will remain open under the Bottom Dollar name through the end of the year, according to company officials.
Sale of the discount food stores will simplify Delhaize’s business and allow the company to invest in core markets, says President and CEO Frans Muller.
The stores’ employees, roughly 2,200, will receive severance pay. Some will be eligible for job transition assistance.