Tag Archives: albertsons

Albertsons to Sell, Lease Back 71 US Stores for $720 Million

Albertsons Cos. has actually entered into a contract to offer and rent back 71 of its stores to a Delaware-based limited-liability entity in a transaction planned to raise up to $720 million.

C.F. Albert LLC will buy the residential or commercial properties and lease each one back for a preliminary term of Twenty Years, with Albertsons booking 8 alternatives for five-year lease renewals, inning accordance with a filing by Albertsons with the U.S. Securities and Exchange Commission.

The business anticipates the sale-leaseback of the homes, subject to traditional closing conditions, will nearby Dec. 2.

The filing does not consist of a list of the properties associated with the sale leaseback contract, but lists 15 different selling entities connected with a series of big food and pharmacy chains, including Safeway, Jewel, Randall’s, Vons, Dominick’s and Wildcat.

Sales-leasebacks have in current years been a popular car for grocery chains and other holders of net-lease residential or commercial properties to monetize their owned-store portfolios.

In 2010, Cole Credit Residential or commercial property Trust III Inc. acquired Albertson’s interest in 33 retail residential or commercial properties comprising 1.9 million square feet throughout the United States for $276 million.

Haggen takes legal action against Albertsons for $1 billion over grocery offer

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Numerous Vons and Albertsons shops throughout the valley were converted into Haggen grocery stores in June.

Published Tuesday, Sept. 1, 2015|5 p.m.

Updated Tuesday, Sept. 1, 2015|5:39 p.m.

BELLINGHAM, Wash.– The small grocery-store chain Haggen on Tuesday took legal action against Albertsons for more than $1 billion in damages, alleging the supermarket huge engaged in methodical efforts to remove it as a sensible rival in 5 states.

The lawsuit, filed in federal court in Delaware, accuses Albertsons of anti-competitive practices. Haggen, based in Bellingham, Wash., states those efforts required it to lay off hundreds and close nearly a fifth of the stores it had obtained from Albertsons and Safeway last December.

Previously this year, Haggen bought 146 Albertsons and Safeway stores, expanding from 18 stores in Oregon and Washington into new markets in California, Nevada and Arizona, the Seattle Times reported. Albertsons and Safeway were compelled to reject those shops to win approval by the Federal Trade Commission for their merger.

In June, Haggen converted 7 previous Vons and Albertsons shops in Southern Nevada to its brand. The chain has 3 shops in Las Vegas, three in Henderson and one in Stone City.

In a one-sentence emailed statement, Albertsons spokesman Brian Dowling said: “The claims in the claim are totally without merit.”

Tuesday’s suit also comes months after Albertsons sued Haggen in July for scams for failing to pay $41.1 million in inventory.

Haggen alleges that Albertsons acted “in a manner that was designed to (and did) hamstring muscle Haggen’s capability to successfully operate the Shops after taking ownership.”

The claim says Albertsons provided it deceptive and insufficient retail-pricing information, causing it to unwittingly inflate prices, in addition to illegally accessed Haggen’s confidential information to get the upper hand.

“Had actually Haggen known Albertsons’ true intentions, Haggen would never have purchased the Stores, nor would the FTC have permitted such a purchase,” according to Haggen’s claim.