C&S Wholesale Grocers of New Hampshire has finalized the purchase of Charleston, South Carolina-based Piggly Wiggly Carolina Co.’s wholesale and retail services business.
“The Piggly Wiggly brand has been a Southern tradition for over 60 years, and we are proud to partner with the many talented independent owners to grow this beloved banner,” C&S executives Tracy Moore, Mike Papaleo and John Owens said in a letter to vendors dated Oct. 21. “The Pig brand was introduced to the South Carolina market in 1947 and has thrived by proudly serving independent owners in this market and beyond. C&S acquired the rights to the Piggly Wiggly name in 2003 in connection with our acquisition of the Fleming Companies.”
Piggly Wiggly Carolina has operated stores for 67 years. It was revealed earlier this month that the company’s privately owned parent, Greenbax Enterprises Inc., was “seeking approval from shareholders to approve the sale of its retail and wholesale grocery businesses by the end of the year and to dissolve the company entirely within the next three years,” according to the The Post and Courier.
The paper also reported then that Greenbax proposed to sell its wholesale operation to C&S for $9.3 million. C&S has been supplying Piggly Wiggly stores since its Jedburg and North Charleston distribution centers were shut down about a year ago.
Piggly Wiggly plans to sell its 19 remaining stores to independents grocers, and the paper said the company has been in talks with buyers for at least 17 of them.
The total proceeds from the wholesale and retail business sales after expenses are estimated at $6.1 million, the paper said.
