Yucaipa Sets Seventh Extension
. here has once again extended the deadline for its exchange offers and consent solicitations regarding the $1.5 billion merger of Food 4 Less Supermarkets, La Habra, Calif., and Ralphs Grocery Co., Compton, Calif.
The new deadline of midnight today extends the offer's previous deadline of May 8. It is the seventh extension since the original offer, which was set to expire Feb. 23.
As reported, Yucaipa, parent company of Food 4 Less, last month reached agreement with all bondholders on the exchange offers and consent solicitations. Darius Anderson, a Yucaipa spokesman, said the latest extension was a "procedural delay" that does not change the earlier agreement.
In connection with the financing of the merger, Yucaipa recently filed a registration statement with the Securities and Exchange Commission for the issuance and sale of $495 million of bonds in the new company, to be called Ralphs. Once those new notes are sold, the merger would be completed. Yucaipa expects closure of the deal by mid-June, Anderson said.
Two Plead Guilty in Lennon Death
WAYNE, N.J. -- Michelle Lennon, 24, pleaded guilty last week to murdering her husband, Brooke D. Lennon, 55, who was senior vice president of merchandising at Grand Union Co. here when he was killed last June.
She admitted to killing him at their home in Monsey, N.Y., by beating him with a baseball bat, placing a plastic bag over his head and strangling him with a telephone cord.
She could face 20 years to life in prison when she is sentenced on charges of second-degree murder on May 30, according to officials.
Her accomplice and boyfriend, Robert Tomassi, 25, an unemployed mechanic, pleaded guilty to manslaughter. He could face 12 1/2 to 20 years in prison when he is sentenced June 28, officials said.
Marsh Buys Food Service Operation
INDIANAPOLIS -- Marsh Supermarkets here, through its ALLtimate/Crystal Catering subsidiary, has acquired a food-service operation.
Marsh acquired Martz & Associates Food Services and its affiliate, Carefree Catering, which are also based here, for an undisclosed amount.
Martz and Carefree operate 150 fresh food vending machines, as well as dining facilities at a number of area businesses, including the Indianapolis Water Co., Ameritech and the Indianapolis Motor Speedway. Martz had sales of more than $8 million last year.
Marsh operates 88 supermarkets and 181 convenience stores in Indiana and Ohio.
Buttrey Completes Depot Sale
GREAT FALLS, Mont. -- Buttrey Food & Drug Stores Co. here has completed the sale of its nonfood distribution center to Associated Food Stores, Salt Lake City.
Associated will now supply Buttrey and its other 700 independent retail customers with general merchandise, health and beauty care and pharmaceutical items from the 263,000-square-foot site, located in Payson, Utah.
Associated said it paid about $3.5 million for the land, building and equipment, and about $5.3 million for the warehouse's inventory.