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Haggen Acquires Albertson’s, Vons Stores

Haggen Food & Pharmacy grocery chain is buying more than 83 Albertson’s, Pavilions and Vons stores in California, 28 of which are located in Los Angeles County. The purchases are the result of a diversification required by the Federal Trade Commissions after reviewing the merger of Albertson’s LLC and Safeway Inc., announced in March. In the merger, all outstanding shares of Safeway were acquired by AB Acquisitions, owner of Albertson’s LLC and controlled by Cerebus Capital Management LP. This deal was valued at approximately $7.6 billion. Financial terms of the Haggen deal were not disclosed, and it’s unclear which stores will switch ownership. There are 13 Albertson’s, Vons and Pavilions in the greater Valley. If approved by the FTC, the transaction will close in early 2015 and Bellingham, Wash.-based Haggen will expand from 18 stores and 16 pharmacies into 164 stores and 106 pharmacies. All Albertson’s and Safeway employees will have the opportunity to become Haggen employees, and Haggen plans to retain the current store management teams.

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