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11/30/2015

Smart & Final expands California footprint with store purchase

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It’s official: Smart & Final Stores is acquiring 32 Haggen stores in Central and Southern California.


Smart & Final has been approved by the United States Bankruptcy Court to purchase 32 store leases – four of which are supplemental to the chain’s previously announced stalking-horse bid –from affiliates of Haggen Holdings for a total cash purchase price of approximately $68 million. Smart & Final plans to convert the 32 stores to its Extra! Store format.


The transaction is expected to close during Smart & Final's fiscal fourth quarter in 2015.


"We're excited about the opportunity to build upon our footprint in the important California market. This strategic acquisition puts us ahead in 'Project 100,' our plan to open 100 new stores, add 100 new teams and invest in 100 new neighborhood projects in the next four years," said Smart & Final CEO David Hirz.


Smart & Final operates operates 270 supermarkets under the "Smart & Final," "Smart & Final Extra!" and "Cash & Carry Smart Foodservice" banners in California, Oregon, Washington, Arizona, Nevada, and Idaho, with an additional 16 Smart & Final stores in northern Mexico operated through a joint venture.