Food Lion is a king among grocery chains in the Southeast and Mid-Atlantic regions where it operates about 1,100 supermarkets under the Food Lion banners. About half of the company's stores are in the Carolinas, but it also has outlets in 10 other states, including Virginia, Georgia, and Tennessee. Food Lion, which prides itself on low prices, has taken a beating from low-cost competitors, most notably Wal-Mart Supercenters, and a weak economy. The company's private-label Food Lion brand products accounts for about 20% of sales. Founded in 1957 as Food Town, Food Lion is owned by supermarket operator Ahold Delhaize.