DALLAS, April 30 /PRNewswire/ -- Fleming (NYSE: FLM) announced today that
the sale of 23 of the 36 Sentry stores (33 supermarkets, two drug stores and
one liquor store) is complete. The 23 Sentry stores were sold to current
independent retailer customers and former Sentry management. Fleming will
continue supplying the retail supermarkets from the Milwaukee Division.
Fleming announced in February that the company will convert 10 Sentry
supermarkets in the Milwaukee area to a new price impact concept with expanded
meat and produce offerings, new features, new conveniences, a new look and a
new name: Fresh4Less(TM). In addition, Fleming closed three Sentry
supermarkets.
The Sentry supermarkets were sold as part of Fleming's previously
announced strategic plan that focuses on its growth areas of price impact and
distribution. As previously announced, the company expects to receive
approximately $200 million in proceeds in 2001 from the sale of conventional
retail stores as well as retention of a significant portion of the wholesale
distribution to these stores.
Fleming is a $14 billion company and the 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, 5,000 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
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, both of
Fleming
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