DALLAS, Feb. 28 /PRNewswire/ -- Fleming (NYSE: FLM) today announced that
it has completed the sale of 11 ABCO Desert Markets located in Phoenix and
Tucson, Arizona, to Safeway Inc. (NYSE: SWY).
The ABCO Desert Markets were sold as part of Fleming's previously
announced strategic plan that focuses on its growth areas of price impact and
distribution. Additionally, Fleming has previously announced the sale of the
Baker's chain to Kroger. The Baker's transaction is anticipated to be
finalized in late March.
Fleming is a $15 billion company and industry leader in procurement and
distribution. 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, 3,000 convenience
stores, and nearly 1,000 supercenters, discount, limited assortment, drug,
specialty, e-tailers, and other businesses across the country.
Safe Harbor Statement
This release includes statements that (a) predict or forecast future
events; (b) depend on future events for their accuracy; or (c) embody
projections and assumptions that may prove to have been inaccurate, including
expectations for years 2001 and beyond.
These projections, forward-looking statements, and the company's business
and prospects are subject to a number of factors that could cause actual
results to differ materially, including: adverse competition, sales declines
and loss of customers, exposure to litigation and other contingent losses,
failure to implement strategic initiatives according to plan or to achieve the
expected results of such plan, failure of the company to achieve necessary
cost savings, and negative effects of the company's substantial indebtedness
and the limitations imposed by restrictive covenants contained in the
company's debt instruments. These and other factors are described in the
company's periodic reports available from the Securities and Exchange
Commission.
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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