DALLAS, Oct. 17 /PRNewswire/ -- Fleming Companies, Inc. (NYSE: FLM) today
announced that, pursuant to a request by The Yucaipa Companies, it has waived
existing standstill provisions, effectively clearing the way for a Yucaipa
affiliate to make additional open market purchases of Fleming stock. The
executive committee of Fleming's board of directors has approved the waiver of
the standstill. Yucaipa, through its affiliate, may purchase up to an
additional one million shares of Fleming stock.
"We are very pleased to have Ron Burkle and Yucaipa as a major shareholder
of Fleming," said Mark Hansen, chairman of the board and chief executive
officer of Fleming. "Ron's expertise is renowned in both the investment
community as well as among retail executives. He has a clear understanding of
Fleming's vision and strategies. His desire for flexibility to make further
purchases of Fleming stock is a strong indicator of Mr. Burkle's commitment to
Fleming."
Fleming is 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, 6,800
convenience stores and more than 2,000 supercenters, discount, limited
assortment, drug, specialty, and other businesses across the country. To
learn more about Fleming, visit our Web site at http://www.fleming.com .
CONTACTS:
(Media) Shane Boyd 972.906.8824
(Media) Randy Hatcher 972.906.8823
(Investors-Equity) Meredith Anderson 972.906.8592
(Investors-Debt) Matt Hildreth 972.906.8126
SOURCE Fleming
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Related links:
http://www.fleming.com
CONTACT:
media, Shane Boyd, +1-972-906-8824, or Randy
Hatcher, +1-972-906-8823, or investors-equity, Meredith Anderson,
+1-972-906-8592, or investors-debt, Matt Hildreth,
+1-972-906-8126, all of Fleming
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