DALLAS, March 23 /PRNewswire/ -- Fleming (NYSE: FLM) announced today that
The Yucaipa Companies, a private investment firm based in Los Angeles, has
completed its previously-announced $50 million investment in Fleming. Yucaipa
now holds approximately 3.8 million newly-issued common shares, representing
approximately 8.7 percent of Fleming's outstanding stock. As previously
announced, Yucaipa also acquired a 12-month option to purchase an additional
$50 million of Fleming's common stock at the then-current average market price
of Fleming's stock.
The Yucaipa Companies is a Los Angeles-based investment firm with
expertise in retail and distribution. Since its founding in 1986, the firm
has completed mergers and acquisitions valued at more than $30 billion
including the merger of Fred Meyer, Inc. and the Kroger Company, which formed
the largest supermarket chain in the nation.
Fleming is a $14 billion company and industry leader in distribution and
has a growing presence in value retailing. Fleming's primary business is
buying and selling merchandise. The company serves approximately
3,000 supermarkets including more than 800 North American stores of global
supermarketer IGA and other regional banners, 3,000 convenience stores and
nearly 1,000 supercenters, discount, limited assortment, drug, specialty, and
other businesses across the country.
To learn more about Fleming, visit our website at http://www.fleming.com .
CONTACTS:
(Media) Randy Hatcher 972.906.8823
(Investors-Equity) Meredith Anderson 972.906.8592
(Investors-Debt) Alan McIntyre 972.906.8126
SOURCE Fleming
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Related links:
http://www.fleming.com
CONTACT:
media, Randy Hatcher, +1-972-906-8823, or
investors-equity, Meredith Anderson, +1-972-906-8592, or
investors-debt, Alan McIntyre, +1-972-906-8126, all of Fleming
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