Albertson's Exits Southwest Missouri Market

BOISE, Idaho - Albertson's Inc. on Tuesday announced plans to sell eight Missouri store locations and close a ninth, effectively completing the company's plan to exit the Springfield, Joplin, Nixa, Republic and Waynesville markets as a food retailer. The company said it has determined these stores did not build shareholder value, and could not attain significant market share.

Albertson's and Roswil, Inc. Ramey/Price Cutter said they would transfer ownership of eight stores in Springfield, Joplin, Nixa, and Waynesville, Missouri. The sale is expected to be complete by April 22, 2002. Albertson?s said its store in Republic, Mo., will be closed March 31, 2002.

"Albertson's is committed to markets where the company holds -- or has the potential to gain ? significant market share," said Larry Johnston, Albertson's CEO and chairman of the board. "While these decisions are never easy, we had an opportunity to sell these stores to a strong buyer with an excellent reputation. We are confident Ramey/Price Cutter will create a smooth transition that will benefit the affected communities."

"After several months of careful analysis and consideration we made the right decision," Great Plains Division vice president David Jerry said. "Ramey/Price Cutter will provide our Albertson's associates with continued employment opportunities. The resources generated from the sale of these stores will be reinvested in other strategic growth areas of our business."

Albertson's currently employs about 725 people in Springfield, Joplin, Nixa, Waynesville, and Republic.
This ad will auto-close in 10 seconds