Albertsons to Acquire 3 Stores from Haggen

Albertsons to Acquire 3 Stores from Haggen

Albertsons, the American grocery company based in Boise, Idaho, recently announced that it will acquire three stores in Arizona from Haggen if the outcome of the Washington-based grocer's assets gets approval from a US bankruptcy court.

The three stores that Albertsons will acquire are on McCulloch Boulevard in Lake Havasu City and on East Broadway Road and North Silverbell Road in Tucson. Stores of Haggen in Flagstaff, Prescott, Prescott Valley, Anthem, including site in Tucson and in Scottsdale so far have received no bids.

Phoenix-based Sprouts Farmers Market has also purchased four stores of Haggen in the auction. These stores are located in Los Angeles, Santa Barbara, Simi Valley and Las Vegas.

During the auction, a total of 55 stores were sold, all of those stores were located in Arizona, California, Nevada, Oregon and Washington. Haggen sold its 55 stores for more than $47 million, Haggen announced late Friday.

Haggen has to submit the results of the auction for approval by the US Bankruptcy Court for Delaware in Wilmington at a hearing on November 24. The court on Friday gave approval to an earlier proposal of eight California stores by Gelson’s Markets for approximately $36 million.

Another 28 California stores by Smart & Final LLC for $56 million also received approval from the court, said Haggen. Total proceeds from auction sales will reach $139 million, it said.

The company in August and September announced that it would close all 10 stores in Arizona.

Popular Stories