Albertson's enters specialty food arena
Sep 22, 2004 12:22 PM, from staff and wire reports
Albertsonís Inc has acquired Southern California-based fresh, gourmet, and specialty food retailer Bristol Farms. The acquisition marks the Boise ID-based grocery chainís entry into one of the industryís fastest-growing sectors. Terms of the transaction were not disclosed.
All 11 Bristol Farms stores in Southern California will continue to operate under the Bristol Farms banner, with separate management operating the business from Albertsonsí traditional food and drug operations. Kevin Davis will continue as Bristol Farmsí president and chief executive officer.
The transaction was completed via a merger in which Bristol Farms becomes a wholly owned but independently operated subsidiary of Albertsonís. Bristol Farms had been majority-owned by private equity funds managed by Oaktree Capital Management LLC, and was represented in this transaction by Greif & Co, a Los Angeles CA-based investment bank.
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