ANCHORAGE, Alaska -- Carr Gottstein Foods Co. here has completed two separate acquisitions and opened its first store in the Aleutian Islands.
alized basis," the company said.
The acquisitions -- for which the company signed letters of intent in January -- include two food and general merchandise stores in the northwest coastal cities of Nome and Kotzebue, Alaska, and a separate acquisition of food-service supplier Yukon Express Services, which is based in Fairbanks.
The two stores, each with 16,000 square feet, were acquired from Kotzebue Development Corp., Kotzebue. Financial terms were not disclosed.
The two stores, operating under the name Hanson Trading Co., had combined annual sales of approximately $15 million, Mark R. Williams, Carr's president and chief operating officer, said.
Although Carr Gottstein is leasing both stores, it has an option to purchase the land and building in Nome. It expects to exercise this option within six months, Williams said.
The acquisition agreement calls for Kotzebue Development to build a new 25,000-square-foot replacement store in Kotzebue, with construction scheduled for 1995, Williams said.