PHOENIX -- Yucaipa Cos., the Claremont, Calif.-based investment company that owns Food 4 Less Supermarkets, La Habra, Calif., is negotiating to acquire Smitty's Super Valu here, trade observers said last week. Smitty's, which operates 29 stores here and in Tucson, Ariz., has been owned by Steinberg Inc., Montreal, since 1981. Steinberg, a holding company whose only asset is Smitty's, is owned by Socanav, Montreal, a diversified conglomerate. Smitty's sales volume is estimated to be $700 ...

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