Albertsons Companies is acquiring multiple Paul’s Market stores in Idaho, four of which will be rebranded as Albertsons locations.
These four to-be-rebranded stores are located at:
An additional three Paul’s Market stores will be acquired in Caldwell, Mountain Home, and Nampa.
Financial terms of the transaction were not disclosed.
Stan and Steve Zatica, Co-Owners of Paul’s Market, commented briefly on the store closures in a press release on Monday.
“From the day that our family opened the first Paul’s Market store in 1955, we have been a proud Treasure Valley grocer, and we know that the folks at Albertsons share our values and commitment to providing the best to our communities,” the Zaticas said. “We sincerely thank our communities for 60 years of shopping with us, and we look forward to watching how these stores evolve to serve their customers for the future.”
Brad Street, Albertsons’ Intermountain Division President, complimented Paul’s Market on its dedication to the community and was excited to welcome new associates to the company.
“Over its many years operating retail food stores in the region, Paul’s Market has developed an outstanding reputation for quality, selection, and service,” said Street. “We are excited to have the chance to add experienced retail employees to our ranks, as well as the opportunity to build on that foundation and earn the trust of Paul’s Market loyal customer base.”
The Albertsons Intermountain Division operates 84 stores in Idaho, Montana, Wyoming, Utah, Colorado, North Dakota, and Nevada.
The transaction is subject to customary closing conditions. Both parties hope to close the deal for these stores sometime in April.