The verdict is in—Delaware bankruptcy judge, Kevin Gross, has given the go-ahead on Albertsons’ bid to absorb the remaining 29 Haggen stores for $106 million.
Announced earlier this month, Albertsons’ deal will not remove the Haggen brand from the retail landscape entirely. Of the 29 stores to be purchased, 15 in Washington will still carry the Haggen banner, according to the Seattle Times. The last 14, which were mainly stores acquired from Albertsons or Safeway stores, will become Albertsons once again.
“We are excited about the opportunity to have the backing of Albertsons and look forward to be part of the Albertsons grocery family,” John Clougher, CEO of Haggen, shared in a prior press release. “Haggen has been a part of the Pacific Northwest and the Bellingham community for more than eight decades and we will continue the traditions of operating great Haggen stores focused on community involvement, fresh northwest products and great service.”
Following Judge Gross' decision, Albertsons Spokesman Brian Dowling provided the Bellingham Herald with a statement explaining that the company is "pleased with the court approval," adding that the company expects to close on the deal in the next several weeks. Haggen officials have yet to comment.
The deal also includes offering to hire essentially all Haggen workers at these soon-to-be-acquired stores.
“With the sale of these 29 stores to Albertsons, we are optimistic that everyone who works within them will finally be able to have the certainty and stability that they deserve,” UFCW issued in its own statement.
While there may be no more news coming from Haggen any time soon, keep counting on DeliMarket News to update with all the latest industry happenings.