Southern Family to Purchase 31 Store Locations on a 'Going Concern' Basis
BIRMINGHAM, Ala., April 30 /PRNewswire/ -- Bruno's Supermarkets, LLC today
announced that through an auction it has signed an Asset Purchase Agreement
with Southern Family Markets Acquisitions II LLC, ("Southern Family") an
affiliate of C&S Wholesale Grocers Inc. valued at $45.8 million. Under the
terms of the agreement, Southern Family has purchased 31 store locations on a
"going concern" basis and has purchased the remaining 25 on a liquidating
basis. Bruno's will seek approval of the Asset Purchase Agreement in a Court
hearing scheduled for Monday, May 4th at 9 AM CT.
"I am pleased that we were able to come to an agreement with Southern Family
that not only preserves jobs at our store locations but also delivers more
value to our creditors than other potential outcomes would," said Jim Grady,
Chief Restructuring Officer for Bruno's. "We are grateful to all of our
Teammates for their hard work, our customers for their loyalty and our
communities for their support to Bruno's throughout this process."
Additional details related to the agreement with Southern Family and other
general information about the auction, including details related to certain
prescription and inventory sales, will be available at www.kccllc.net/brunos.
About Bruno's
Bruno's Supermarkets, LLC, is the parent company of Bruno's and FOOD WORLD
grocery stores in Alabama and the Florida Panhandle. Founded in 1933, Bruno's
has operated as an independent company since 2007 after undergoing several
transitions and changes in ownership starting in 1995.
Contacts
Ed Trissel / Jim Shaughnessy / Marin Kaleya
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449 ext. 154
SOURCE Bruno's Supermarkets, LLC
Ed Trissel, Jim Shaughnessy, or Marin Kaleya, all of Joele Frank, Wilkinson
Brimmer Katcher, +1-212-355-4449 ext. 154
