‘FOOD BASICS’ BRAND IN PATHMARK
MONTVALE, N.J. — Pathmark and Food Basics stores operated by A&P here are now stocking private-label items under the Food Basics and Home Basics label. Officials of A&P said a new opening price point private label would be a part of a repositioning of Pathmark under its ongoing “Project MMX” initiative. Recent sales fliers from Pathmark and Food Basics, the 12-store limited assortment discount banner, feature Center Store, nonfood and prepackaged meats and produce under the Food Basics label, which has a logo resembling that of the stores. Pathmark stores also stock some opening price point items under the “Smart Price” label. “This economy has definitely affected our customers' shopping budgets. The new Food Basics and Home Basics brands will allow our shoppers to buy all their household necessities for much less than national brands,” Sam Martin, chief executive officer of A&P, said in a statement.
CASEY'S GETS FINANCING FOR RECAP
ANKENY, Iowa — Casey's General Stores last week said it had completed a private debt placement designed to finance a $500 million recapitalization that it hopes will turn away a hostile takeover. As previously reported, the convenience store operator said it would buy up to $500 million of its own stock at prices up to $40 per share in part to head off a tender offer for all of its shares at a lower price from Canadian rival Alimentation Couche-Tard.
MEIJER REPLACES ORIGINAL STORE
GRAND RAPIDS, Mich. — Meijer has opened a replacement for its oldest store here. The new store, which opened Aug. 5, was built behind the original Thrifty Acres store that opened nearly 50 years ago, officials said. That location will be demolished for additional parking for the new site, although some of the materials from that site, including its original wood arches, will be incorporated into the new store, officials said.
FMI APPLAUDS CHILD NUTRITION ACT
ARLINGTON, Va. — Food Marketing Institute praised the U.S. Senate for passing legislation that ensures continuation of federally supported healthy meals for low-income children. The Healthy, Hunger-Free Kids Act also includes provisions to help lay the groundwork for a smooth transition for Women, Infants, and Children (WIC) customers to use an electronic benefit transfer (EBT) card for their transactions at grocery stores. “This is a very positive development,” Jennifer Hatcher, FMI's senior vice president of government and public affairs, said in a statement.
VONS CREDIT UNION BUYS ANOTHER
EL MONTE, Calif. — The Vons Employees Federal Credit Union here — an independent entity from Vons Grocery Co., the Southern California division of Pleasanton, Calif.-based Safeway — said it has acquired another independent federal credit union that liquidated its assets. The acquired company — Certified Federal Credit Union, which was based in Commerce, Calif. — will become a division of the Vons credit union and will add $38 million in assets and 6,000 new members, plus one additional branch office. Steve Weakley, president and chief executive officer of the Vons credit union, said his operation had assets of $332.4 million, with 20% capital, and 37,825 members as of June 30, prior to the acquisition.