DALLAS, April 19 /PRNewswire/ -- Fleming (NYSE: FLM) today announced
Southwest Supermarkets has agreed to purchase 7 ABCO Desert Markets. The
transaction is expected to close within 45 days.
"We are pleased these stores will become a part of the growing and
successful Southwest Supermarket group," said Tom Strzelczyk, President of
ABCO Desert Markets.
The purchase agreement with Southwest Supermarkets is for 7 stores with
5 in Phoenix and 2 in Tucson. The Southwest transaction includes a supply
agreement with Fleming on the purchased stores, expanding the existing supply
agreement with Southwest. Fleming's Phoenix Division will supply the
Southwest stores.
Southwest Supermarkets is a leading ethnic grocery retailer that has been
serving the growing Hispanic market in Arizona for over 20 years. "We are
continually looking for ways to improve value by providing a unique array of
products and services, while offering an inviting and friendly shopping
experience. This transaction allows Southwest an exciting opportunity to
expand into new trade areas that will meet the needs of a more diverse
consumer profile," said Tony Gioia, President and CEO, Southwest Supermarkets.
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, 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) 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, Alan McIntyre +1-972-906-8126, all of Fleming
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