The company plans to rename Victory as Hannaford by the end of the next year. The acquisition, which Delhaize expects to close by the end of the year, will strengthen Hannaford's presence in Massachusetts and New Hampshire.
The deal is part of Hannaford's strategy to grow in existing and contiguous markets, according to a company spokesperson. "Real estate is at a premium. It's difficult to find locations so this provided a ready-made opportunity."
The transition of Victory stores into Hannafords will not involve major construction, as the average Hannaford, at 49,000 sf, is only 5,000 sf larger than the average Victory unit. And their products are relatively similar, the spokesperson says. "We have similar strategies in that our focus is on quality, perishable products."
Victory, based here, was founded in 1923 by the DiGeronimo family, when they opened a small store. The company, currently owned by the third generation of DiGeronimo's, opened its first supermarket, where its headquarters are now housed, in 1955.
Hannaford operates about 125 stores in Maine, Massachusetts, New Hampshire, New York and Vermont. Delhaize also owns US grocery chains Food Lion, Kash n' Karry and others for a total number of approximately 1,500 stores in the US.
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