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Albertson's Buying United of Texas
BOISE, Idaho — Albertson's LLC said Monday that it has agreed to acquire The United Family, a privately owned chain of 50 supermarkets based in Lubbock, Texas, operating under three banners.
September 9, 2013
2 Min Read
BOISE, Idaho — Albertson's LLC said Monday that it has agreed to acquire The United Family, a privately owned chain of 50 supermarkets based in Lubbock, Texas, operating under three banners. Terms were not disclosed.
“United has built an exemplary operation in Texas, complementary to our own go-to-market strategy in many respects,” explained Bob Miller, chief executive officer of Albertson's LLC. “The family and leadership team have done a tremendous job in establishing and perpetuating a remarkable service culture and commitment to fresh, quality foods throughout their stores, even as they’ve grown. Our team feels there is an exceptional opportunity to invest in and grow their brands.”
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In addition to the 50 supermarkets — operating under the United Supermarkets, Market Street and Amigos banners — the acquisition also includes seven convenience stores and 26 fuel centers under the United Express banner; a division called RC Taylor that distributes tobacco, candy and general merchandise; a divison called Praters that makes fresh, prepared foods and tortillas; and a subsidiary called Llano Logistics that operates two distribution centers in Roanoke and Lubbock, Texas.
Upon completion of the transaction, United will operate as a new business unit under Albertson's LLC’s company structure. Robert Taylor, current CEO, will continue to lead United in his new capacity of president, reporting directly to Miller.
The chain, which had been family-owned since 1916, will continue to operate much as it does today following the acquisition, Albertsons said. United will continue to make decisions locally, similar to the other operating divisions in Albertson’s LLC.
The transaction is expected to be complete by the end of October.
“United will continue to make decisions locally and maintain a strong commitment to our Texas communities, our guests and our team members," Taylor said. "The opportunities presented to us to invest in our stores and grow with this transaction are tremendous.”
Currently, Albertson's LLC operates 76 stores in Texas, the majority of which are in the Dallas-Fort Worth Metroplex, and has just over 600 stores company-wide. After the acquisition is complete, Albertson’s LLC will operate approximately 650 stores and 11 distribution centers in 16 states.
Sagent Advisors, LLC acted as exclusive financial advisor to United on the transaction. Citigroup acted as financial advisor to Albertsons LLC.
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