Business Services Industry
Acquisition to Affect Save Mart Supermarkets' Modesto, Calif., Headquarters.
Knight Ridder/Tribune Business News, November, 2002
By J.N. Sbranti, The Modesto Bee, Calif. Knight Ridder/Tribune Business News
Nov. 15--Save Mart Supermarkets' plan to purchase 28 Food 4 Less stores may generate more jobs at its Modesto headquarters.
"There's going to be an impact on our corporate office ... and we're going to need additional people," Sally Sanborn, Save Mart's spokeswoman, said Thursday. "We know we are going to need to expand in some areas. We just don't know where yet."
The supermarket chain announced Wednesday that it has agreed to buy the stores, which are owned by the Fleming Cos. The $165 million deal would include Save Mart paying up to $130 million in cash for the stores and inventory, and a $35 million reduction of long-term liabilities for Fleming in the...
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