DALLAS, April 20 /PRNewswire/ -- Fleming (NYSE: FLM) announced today that
it has sold 19 ABCO Desert Markets located in the Phoenix and Tucson, Arizona
area to current independent retail customers. The transactions are expected
to close within 30 days.
Fleming will continue supplying these retail supermarkets from the Phoenix
Division. It is anticipated most retailers will become a part of Fleming's
IGA Marketing Group. The sales of these ABCO Stores are part of Fleming's
previously announced strategic plan which includes divesting conventional
supermarkets and focusing on value retail formats.
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 700 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 .
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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