SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of report: January 13, 2000
(Date of earliest event reported)
HANNAFORD BROS. CO.
(Exact name of registrant as specified in its charter)
Maine 1-7603 01-0085930
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File No.) Identification No.)
145 Pleasant Hill Road, Scarborough, Maine 04074
(Address of principal executive offices) (Zip code)
Registrant's telephone number: (207) 883-2911
<PAGE>
Item 5. Other Events.
On January 13, 2000, the Registrant announced that it had entered into
an agreement with the Cypress Group L.L.C., a New York-based private equity
firm, to sell a majority interest in HomeRuns.com, its internet-based grocery
delivery service subsidiary, through a $100 million investment and
recapitalization.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99.1 Press release dated January 13, 2000, regarding sale of majority
interest in HomeRuns.com subsidiary.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
HANNAFORD BROS. CO.
/s/ Charles H. Crockett
Date: January 26,2000 By: Charles H. Crockett
Assistant Secretary
<PAGE>
HANNAFORD BROS. CO.
EXHIBIT INDEX
Exhibit
Number Description
99.1 Press Release dated January 13, 2000,
regarding sale of majority interest in
HomeRuns.com subsidiary.
EXHIBIT 99.1
For Further Information Contact: Charles H. Crockett Assistant Secretary
207-885-2349 FOR IMMEDIATE RELEASE January 13, 2000
HANNAFORD SELLS MAJORITY INTEREST IN HOMERUNS.COM
Scarborough, Maine: Hannaford Bros. Co. (NYSE-HRD), multi-regional food
retailer, reported today that it has entered into an agreement with The Cypress
Group L.L.C., a New York-based private equity firm, to sell a majority interest
in HomeRuns.com, its internet-based grocery delivery service, through a $100
million investment and recapitalization. The transaction, which is expected to
close in February, represents the largest single investment ever made in a
supermarket-sponsored online grocer.
HomeRuns.com also announced that, upon the close of the transaction, Robert J.
Tarr, Jr., former CEO of Harcourt General, Inc. and The Neiman Marcus Group,
Inc. will be appointed Chairman and CEO of HomeRuns.com.
HomeRuns.com plans to use this investment to fund an aggressive growth strategy
that will result in the development of twenty additional markets over the next
36 months. Hannaford will retain a minority interest and will no longer reflect
the operating results of HomeRuns.com in its income statements. Hannaford has
also entered into a wholesale supply agreement with HomeRuns.com.
The Cypress Group manages two private equity funds with more than $3.5 billion
in commitments. Cypress invests in privately negotiated transactions, targeting
operating businesses and investing with management to foster continued growth.
Investments made by Cypress include Cinemark USA, Inc.; Amtrol Holdings, Inc.;
Scotsman Holdings; Genesis Health Ventures, Inc.; FNC Holdings, Inc., parent of
Frank's Nursery & Crafts, Inc.; WESCO International, Inc.; ClubCorp, Inc.; and
Danka Business Systems PLC.
