AHOLD, ZAANDAM, THE NETHERLANDS, denied a report published last week in the Wall Street Journal that the Dutch retailer might abandon its effort to acquire Pathmark Stores, Carteret, N.J., because the Federal Trade Commission could require Ahold to divest as many as half of Pathmark's 136 supermarkets. Calling the story "a lot of speculation," an Ahold spokesman said, "We feel confident we will be able to close the transaction before the end of the year."
after which the smaller store will be converted into junior anchor retail space.
STATER BROS. HOLDINGS, parent company of Stater Bros. Markets, Colton, Calif., said last week it has commenced an offer to exchange up to $450 million principal amount of newly issued 10-3/4% senior notes due 2006 for a like aggregate amount of its outstanding privately placed 10-3/4% senior notes due 2006. The offer is scheduled to expire Oct. 11. The company said such an exchange is standard operating procedure, with private placements enabling companies to obtain funding quicker before making the exchange and opening bond sales to other potential buyers.
Certified Grocers of California, Los Angeles-based member-owned cooperative, said it has completed its fourth year sponsoring a summer internship program for high school juniors and seniors designed to expose them to the professional world in general and the grocery industry in particular. According to co-op officials, the 22 interns worked in various Certified departments; attended educational seminars and events to highlight different career opportunities in the grocery business, and toured several supermarkets. Certified said its program has involved more than 90 students since 1996.
Ruddick Corp., Charlotte, N.C., parent company of Harris Teeter, Mathews, N.C., said it has allowed its cash offer for shares of Hicking Pentecost, a London-based manufacturer of industrial thread, to lapse and has released Hicking shareholders who tendered their shares from the obligation to accept the buyout offer. Ruddick had hoped to acquire Hicking Pentecost on behalf of its wholly owned subsidiary, American & Efird, manufacturers and distributors of thread for industrial and consumer markets.