Haggen sells 47 locations, 30 back to Albertsons

BELLINGHAM, Wash. — Haggen last week announced that the U.S. Bankruptcy Court for Delaware in Wilmington confirmed the sale of 47 stores. 

 

And though completion of these transactions remains subject to certain conditions, the court approved the sale of 30 of those locations to Albertsons, four stores to Smart & Final Stores, four stores to Sprouts Farmers Market and three stores to Tawa. Tustin Safe, Regency Centers, Donahue Schriber Realty Group, Stater Bros. Markets, Good Food Holdings and Yoke's Foods each acquired one location. '

 

A total of 25 of the locations were sold in California, 11 in Washington, four each in Nevada and Oregon and three in Arizona. 

 

All 30 stores sold back to Albertsons were former Albertsons, Safeway or Vons stores that had been sold to Haggen earlier this year. The Federal Trade Commission granted Albertsons' request for an early termination of its required waiting period under the Decision and Order, which allows the company to bid on these stores. 

 

Albertsons expects to close on the transaction in the coming weeks.  While no definitive timetable has been established at this time, Albertsons will re-open the stores under its various operating banners in 2016. 

 

“We are pleased to be returning to these locations and have the opportunity to create great jobs in these communities,” said Bob Miller, Albertsons chairman and CEO. “The process of re-opening these stores as Albertsons, Safeway and Vons locations will take some time for us to obtain the appropriate licenses, but we are confident that our operating playbook will help us create stores that customers will love to shop again.”

 

Stroock & Stroock & Lavan and Young, Conway, Stargatt & Taylor served as legal counsel, Sagent Advisors as real estate advisors, and Alvarez & Marsal as restructuring advisors to Haggen.