Save Mart Buys Albertson's Northern California 132-Store Division
- Advertisement - Save Mart buys Albertson's northern California 132-store division December 3, 2006 Modesto, CA-based Save Mart Supermarkets announced Monday, Nov. 27, that it has signed a definitive agreement to acquire Albertson's LLC Northern California division. The transaction includes 132 Albertson's stores spread over northern California and northern Nevada, the Roseville, CA, and Vacaville, CA, distribution centers, as well as the Albertson's division office in Dublin, CA. Of the 132 stores, two of the California stores are closed and 10 of the stores are in the Nevada cities of Reno, Sparks and Carson City. Alicia Rockwell, spokesperson for Save Mart, said that the deal between the privately held companies is expected to close in February. The purchase price was not disclosed. Following closure of the deal in February, there will be "six to eight months" during which the stores will operate under the Albertson's name, Ms. Rockwell said. Customers and store employees should expect to see few, if any, changes in the coming months, she added. Any changes would come once the transaction is completed in February, at which time the two companies will begin merging operations, she said. Jen Vroman, spokesperson for Albertson's, said that the Albertson's chain entertained an unsolicited offer from Save Mart but that it was not shopping the division around and is not shopping around any of its other divisions. The sale leaves Albertson's with 390 stores, she said. 1 / 3 Under terms of the stock transaction, at present Albertson's workers will operate under the same union contract as they have been, and Save Mart employees separately will operate under the union contract under which they have been working.
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