BELLINGHAM, WA - It's official—Bankruptcy judge Kevin Gross in Delaware has given the OK on Albertsons’ bid to absorb the remnants of Haggen for $106 million.
Announced earlier this month, Albertsons’ deal will not abolish the Haggen brand in its entirety. Of the 29 stores to be purchased by the retailer, 15 in Washington will still carry the Haggen banner, according to the Seattle Times. The last 14, which were for the most part stores that Haggen originally 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, said 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 the court's decision, Albertsons Spokesman Brian Dowling provided the Bellingham Herald with a written 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 as of the time of writing this.
The deal also extends to offering employment to essentially all Haggen workers at these soon-to-be-acquired “core 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, you can count on AndNowUKnow to update with all the latest industry happenings.
