Albertson's to Boost California Investment
last week it will increase its capital expenditure for its northern California stores by 200% to $185 million in 2002. The investment will include several new stores and fuel centers, the company said. Larry Johnston, chairman and chief executive officer, said, "Northern California is a strategic market in the context of Albertson's future. We are committed to this division, and look forward to continuing to meet the needs of the area."
Ahold Completes Bruno's Acquisition
ZAANDAM, Netherlands -- Ahold here said last week it has completed the acquisition of Bruno's Supermarkets, Birmingham, Ala., following the approval of the transaction by the Federal Trade Commission. The company said the $1.6 billion annual revenue of Bruno's will bring Ahold's total U.S. retail sales to nearly $24 billion annually. Earlier in the month, Ahold said it had completed the acquisition of Alliant Exchange, the parent company of Alliant Foodservice. The company said it expects its food-service division to generate annual sales of $19 billion.
Sysco to Buy Sobeys Food-Service Division
HOUSTON -- Sysco Corp. here said it has reached a definitive agreement to buy for $278 million ($440 million Canadian) substantially all assets of the Serca Foodservice operations of Sobeys, Stellarton, Nova Scotia. The companies also announced an agreement to form a strategic alliance to optimize the source and producing of produce and corporate name brands. Serca, Toronto, was acquired by Sobeys in 1998 as part of its acquisition of the Oshawa Group. For the fiscal year ended May 5, Serca had sales of $1.4 billion.
A&P Parent to See Profits in 2002: Report
MULHEIM AN DER RUHR, Germany -- Tengelmann Group here reportedly said it expects to see its first profitable year in 2002 following several years of high losses. Citing positive results from restructuring efforts initiated three years ago, the company said that its Plus discount stores will be profitable next year, and its Kaiser's and Tengelmann supermarket stores will be profitable this year, according to Financial Times Deutschland. Tengelmann's U.S. interests include a 57% stake in A&P, Montvale, N.J.
