TESCO, London, said last week its board is in talks with the board of Associated British Foods to acquire the ABF Irish chains Quinssworth, Crazy Prices and Stewarts in a transaction valued at more than 500 million pounds. Local industry watchers say the deal, if completed, would be the largest such takeover in Irish history and would give Tesco a 26% share of the grocery market in Ireland and a 30% share in Northern Ireland.
ican will repurchase 12.2 million shares from the family at a price of $45 per share, or $550 million, while another 15 million shares of family-owned stock will be sold simultaneously in a secondary offering at a price that will be determined at the time of the offering.
ASSOCIATED WHOLESALE GROCERS, Kansas City, Kan., said at its annual meeting last week that sales for 1996 were a record $3.096 billion, up 9.5% from $2.836 billion in 1995. President and Chief Executive Officer Mike DeFabis said $64.2 million was returned in member patronage.
ALBERTSON'S, Boise, Idaho, was ranked No. 1 in the retail food and drug industry and No. 42 overall in Fortune magazine's list of America's most admired companies. Other food and drug stores making the grade were Walgreen (No. 57), Publix (89), Safeway (115), Kroger (176), American Stores (254), Winn-Dixie (281), Food Lion (306), Southland (398) and A&P (405). Fred Meyer Inc. was ranked ninth in the general merchandise category and 373rd overall.