The Wall Street Journal is reporting that Albertsons is buying back 33 stores from bankrupt grocery chain Haggen — the same 33 stores it was required to sell when it acquired Safeway. Earlier reports suggested that Albertsons would likely be the buyer of the stores, but now the move is official. (Wall Street Journal)
Albertsons Pharmacy & Business News
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Albertsons expects to raise more than $1.8 billion through its proposed initial public offering, according to an SEC filing made Friday.
The Puget Sound Business Journal is reporting that Haggen is attempting to sell its $12.16 million in assets to Albertsons and Safeway. Some $8.9 million of those assets include customer and prescription records, as well as other pharmacy information.
McKesson and Albertsons announced the signing of a five-year distribution agreement to include the sourcing and distribution of both branded and generic pharmaceuticals.
A week after suing Albertsons for $1 billion, west coast regional grocer Haggen has filed Chapter 11 and continues to cite Albertsons as the source of its difficulties.
Haggen’s acquisition of 146 Albertsons and Safeway stores is shaping up as a disaster and the reasons why are detailed in a new lawsuit that puts the blame squarely on the parent company — Albertsons Holdings — of the divested stores.
Through the acquisition, Haggen expanded from 18 stores with 16 pharmacies in the Pacific Northwest to 164 stores and 106 pharmacies across Washington, Oregon, California, Nevada and Arizona.
FSI advertising expenditures are up 2% across pharmacy retailers and up 7% among grocers.
ACME will enter new markets in Connecticut and New York with its acquisition of A&P stores.