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The Charlestown Regional Business Journal reports that Piggly Wiggly Carolina Co. is selling 22 stores to Bi-Lo Holdings, parent company to Bi-Lo and Winn-Dixie.

In addition, Piggly Wiggly is selling seven stores - one of which is still being built - to Harris Teeter, which is itself in the process of being acquired by Kroger.

Terms of the deals were not disclosed.

“This really reflects that there’s been a dramatic acceleration of M&A activity in the grocery industry, particularly in the last eight to nine months. ... M&A activities are at unprecedented levels in our industry right now,” Christopher Ibsen, Piggly Wiggly Carolina Co.’s corporate affairs director, tells the paper, adding that the company is not looking to sell any other stores, nor is it facing bankruptcy.
KC's View:
The question I keep asking is, what's the next M&A shoe that is going to drop? And how many shoes are in the current economic closet?