FTC APPROVES SCHNUCK'S BUY OF NATIONAL TEA

WASHINGTON (FNS) -- The Federal Trade Commission here has given final approval for Schnuck Markets, St. Louis, to acquire 50 National Tea Co. stores in the Midwest, as long as Schnuck divests 24 of those stores.

l was contingent on Schnuck divesting 24 Midwest stores over FTC concerns about maintaining competition in the region.

Earlier this month, the agency gave final approval to another portion of the agreement. As reported, Schwegmann Giant Super Markets, New Orleans, received the go-ahead to buy 28 National Tea stores in the region from Schnuck.

The deal signals Loblaw's exit from the U.S. food retailing business.