Acquisition Is Part of Agreement With The Kroger Co.
To Purchase 18 Raley's Stores
LAS VEGAS, Sept. 13 /PRNewswire/ -- Food 4 Less, the nation's largest
price-impact supermarket chain, announced today that it will convert several
Raley's stores in the Greater Las Vegas Area to the Food 4 Less banner as part
of an agreement reached by Food 4 Less' parent company, The Kroger Co.
(NYSE: KR), to purchase 18 Raley's in Las Vegas. The transaction is subject
to certain customary conditions and is expected to close within 30 days.
The stores will operate under either the Food 4 Less or Smith's banner,
with the majority of store conversions to be completed in October. Plans are
still being finalized as to which of the stores will operate under the
Food 4 Less banner and which will be converted to Smith's.
"We believe these stores will provide exciting growth opportunities for
our members at Food 4 Less as we continue to expand our presence in the
Greater Las Vegas Area," said Dave Hirz, president of Food 4 Less Stores. "We
look forward to introducing Food 4 Less' special brand of friendly service to
even more customers who appreciate quality, variety and service at everyday
low prices."
He added that Food 4 Less will invest substantial capital to remodel the
stores it is acquiring.
"We are excited about the potential of all of the stores we are acquiring
and we look forward to defining the future of supermarket shopping in Las
Vegas by providing state-of-the-art and value-added services for busy, value
conscious shoppers," Hirz said.
Food 4 Less currently operates five stores in Clark County with two new
stores scheduled to open in late November at 4965 East Sahara Avenue and
3013 West Craig Road. Food 4 Less also plans to begin construction on two
other stores in Las Vegas and Henderson this Fall.
Food 4 Less is a hybrid supermarket/club store. Once converted, the
former Raley's units will offer customers supermarket quality and selection on
name brand grocery items, fresh fruits and vegetables, meats and poultry, plus
a delicatessen and bakery, at low everyday prices.
In addition to its superior stores, Food 4 Less is well known for its
extensive community involvement. "Food 4 Less believes in giving back to the
communities where we operate," Hirz said. "The new communities we will be
serving will find us to be good citizens and neighbors."
Last year, Food 4 Less contributed more than $10 million to support
education, hunger relief and local non-profit organizations in the communities
where it operates stores.
Food 4 Less has been serving the residents of Greater Las Vegas since 2000
when it acquired five former Price Rite stores. Since then Food 4 Less has
invested significantly in remodels and improvements to these stores.
Food 4 Less currently operates 114 price-impact supermarkets under the
Food 4 Less banner in Southern California and Southern Nevada, and Foods Co
banner in Central and Northern California from its headquarters in Los
Angeles. This Fall, Food 4 Less will also begin opening stores in Illinois
and Indiana. Food 4 Less is a division of The Kroger Co., (NYSE: KR), one of
the nation's largest food retailers, based in Cincinnati, Ohio. For more
information on Food 4 Less, please visit our website at http://www.food4less1.com .
SOURCE Food 4 Less
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Related links:
http://www.food4less1.com
Company News On-Call:
http://www.prnewswire.com/comp/732950.html
CONTACT:
Terry O'Neil of Food 4 Less Stores,
+1-310-884-4680
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