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Food City to acquire Farragut Pointe Bi-L0


Food City officials in Abingdon, Va., announced their intention to purchase eight BI-LO supermarkets in Knoxville, Oak Ridge, Maryville and Farragut.

“We’ve been looking at doing this for some time,” said Tom Hembree, spokesperson for Food City.

Hembree wouldn’t disclose how much Food City is paying for the store and declined to comment on how the Farragut BI-LO, recently purchased by CNS Whole Foods and slated to do business as Southern Family Markets, came to be on the selling block.

“I can tell you we expect the deal to be finalized in March,” he said. “The staff there will be given the opportunity to remain as members of the Food City team. We’ll probably be expanding the staff as well.”

Hembree said Food City has been concerned for some time that its presence in the West Knoxville area has been somewhat lacking. The ability to expand in this area as well as compete with other businesses was the impetus for the purchase of the eight stores, he said.

“We are very excited to have been presented with an opportunity to acquire such prime locations within our existing market area,” said Food City President and CEO Steven Smith. “We plan to complete the conversion process as quickly as possible with the least interruption to the normal flow of business.”

Hembree said the Farragut store may close for a day for the conversion, but otherwise it will be business as usual.

“What this will mean for the people of Farragut is a store with lower prices and better organization,” he said.

 

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