ARGYLL SELLS 151 UNITS TO SPAR MEMBERS

LONDON (FNS) -- Argyll Group, the third-largest food retailer in the United Kingdom, has sold 151 of its smaller stores to five members of Spar, a European wholesaler cooperative. The sale, for which Argyll received about $30.5 million (19.7 million pounds at current exchange rate), includes 123 of Argyll's Lo-Cost discount stores and 28 of its Presto stores.All the stores have fewer than 4,000 square

LONDON (FNS) -- Argyll Group, the third-largest food retailer in the United Kingdom, has sold 151 of its smaller stores to five members of Spar, a European wholesaler cooperative. The sale, for which Argyll received about $30.5 million (19.7 million pounds at current exchange rate), includes 123 of Argyll's Lo-Cost discount stores and 28 of its Presto stores.

All the stores have fewer than 4,000 square feet; the average size is 2,100 square feet.

Argyll, which also operates

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