Safeway, QFC Buy 6 Puget Units
and Quality Food Centers have each acquired three retail units formerly owned by Puget Sound Marketing, a seven-unit independent here. QFC, Bellevue, Wash., had agreed to purchase all six stores if it could find a buyer for three of the units, and subsequently arranged for the Seattle division of Oakland, Calif.-based Safeway to purchase those three units.
Terms of the definitive agreements were not disclosed, but the sales will be for cash, Carl Hogan, PSM's owner, told SN. The sales are expected to close in late March. PSM operates four stores under the name Hogan's Market and three Bag & Save units, ranging in size from 30,000 to 45,000 square feet.
QFC will buy two Bag n' Saves in Enumclaw and Gig Harbor and a Hogan's in Auburn. Safeway will buy two Hogan's in Tacoma and Puyallup and a Bag n' Save in Centralia. Safeway said it will close the Tacoma store and remodel the other two.
The seventh store, a 44,000-square-foot Bag n' Save in Bremerton, Wash., is not included in either deal.
Krantor Plans to Buy Stores
JERICHO, N.Y. -- Krantor Corp. here, a distributor of promotional groceries, has issued a letter of intent to acquire a group of Long Island supermarkets and a perishables distribution company.
Mair Faibish, Krantor's chief financial officer, declined to name either the supermarket group or the distributor until the letter of intent is signed, which reportedly could happen by the end of this week.
Under terms of the proposed transaction, Krantor would pay a combination of cash and common stock totaling about $4.5 million, Faibish said.
Krantor's volume is $40 million. With the added volume from the two potential acquirees, Faibish said his company's volume would be about $100 million.