Never heard of them? Me neither:
Next spring, Southern California shoppers will see a new name replacing some of their old grocery standbys: Haggen Inc.
The tiny Pacific Northwest chain is buying 146 Vons, Pavilions, Albertsons and Safeway stores, including 83 in California. The Federal Trade Commission ordered them sold as part of the merger of Albertsons and Safeway earlier this year.
That translates into an eye-popping 811% expansion for the Bellingham, Wash., company, which currently operates 18 stores in Oregon and Washington.
“This was a once-in-a-lifetime opportunity,” said Bill Shaner, the newly appointed chief executive of Haggen in the Pacific Southwest. “They are great stores in a very dynamic marketplace. The chance to grow the brand was very unique.”
The chain did not disclose financial details. Some analysts pegged the deal at $1.4 billion to $2 billion.
You can read the rest at the Los Angeles Times.