Former Raley's CEO to Acquire Larry's Markets
resident and chief operating executive officer of Raley's Supermarkets, Sacramento, Calif., has agreed to acquire most of the assets of Larry's Markets here for $5.5 million, Larry's said last week. Teel, a grandson of Raley's founder, partnered with Michael Ashker to form LM Acquisition Partners to make the purchase. The acquisition awaits confirmation by U.S. Bankruptcy Court and is expected to close by the end of the month. Larry's, which had six stores at the time, filed Chapter 11 bankruptcy in May. LM Acquisiton has agreed to buy five Larry's locations in the greater Seattle-Eastside area and its catering operation, and plans to continue operating the stores under the Larry's banner, the company said.
Supervalu to Get Lucky in Las Vegas
MINNEAPOLIS - Supervalu here said last week it plans to convert two stores in Las Vegas to the Lucky name and everyday-low-price format, in addition to the three Southern California stores it previously said would be converted. "Supervalu is repositioning five Albertsons stores by converting them to the Lucky banner to better serve the needs of the communities we serve in those markets," a corporate spokeswoman told SN. Lucky was one of the major banners in Southern California at the time its corporate parent, American Stores Co., merged with Albertsons in 1999. Albertsons subsequently converted the Lucky-banner stores in California and Nevada to the Albertsons name. In the last few months, Grocery Outlet, a Berkeley, Calif.-based discount chain, laid claim to the Lucky name, saying its non-use for several years meant Albertsons had lost the right to it. Albertsons sued prior to its acquisition in June by Supervalu, and the matter is pending in California.
Southern Family Markets Shutters 13 Stores
BIRMINGHAM, Ala. - Southern Family Markets here said it would close 13 stores in the Southeast to "focus its resources on its strongest markets." The company, an affiliate of C&S Wholesale Grocers, Keene, N.H., said it would continue to operate 75 stores. C&S acquired the stores last year from Bi-Lo and Bruno's. The units slated for closure include four in Alabama, eight in Georgia (including two stores that had recently been converted to Piggly Wiggly) and one in Mississippi. Some of the stores are slated to close Aug. 12, according to local reports, but it was not clear when the rest would be shuttered. C&S could not be reached for further comment.
Publix Posts 8.5% Comp-Store Sales Gain
LAKELAND, Fla. ¡- Publix Super Markets here last week said its comparable-store sales for the second quarter rose 8.5%, including 1.3% that it attributed to the later Easter holiday this year, compared with the second quarter of a year ago. Net income jumped 12.4% to $264 million, on a sales gain of 11% to $5.3 billion. The company said its stock, which is not publicly traded and is available only to employees, was recently appraised at $18.25 per share, up from $17.65 per share (adjusted for a 5-for-1 stock split on July 1). The company operates 884 stores in five Southeastern states.
Bashas' Eyes Arizona Albertsons Locations
PHOENIX -- Bashas' Supermarkets here is preparing bids on an unspecified number of Albertsons sites slated for closure in this market, according to a report last week in the East Vallet Tribune newspaper. the paper quotes Mike Proulx. Bashas' president and chief operating officer, saying the chain would bid for the fixtures and liquor licences of stores with attractive locations. The stores are among the 125 slated for closure nationwide by Albertsons LLC.