ST. LOUIS -- June 8, 2004 -- Save-A-Lot, the nation's largest and fastest growing extreme value grocery chain with a network of 1,200-plus stores, today announced the acquisition of 17 former Grocery Outlet sites in the Dallas/Fort Worth metropolitan area and surrounding markets (see attached site list). Save-A-Lot acquires leasehold interests, property and equipment.
"We're excited about this opportunity to grow our presence in Dallas/Forth Worth, throughout Texas and surrounding regions," said Bill Moran, President and Chief Executive Officer. "This acquisition allows Save-A-Lot and its team of licensees to continue its focused expansion in the Southwest, which is directly and efficiently supported by our dedicated Fort Worth distribution center."
The acquisition is an opportunity for Save-A-Lot to provide a much-needed community service in areas that have recently lost a grocery store and to continue the company's commitment to provide good jobs to individuals in the markets it serves. In addition, Save-A-Lot plans to make aesthetic upgrades to the properties with Save-A-Lot's new exterior and interior décor packages that promise a pleasant experience.
Save-A-Lot licensees operate 30 stores in Texas, 14 of those in the Dallas/Fort Worth area. "As we grow our network of stores and enter new markets in Texas, we look forward to introducing Save-A-Lot's value equation to even more shoppers and successfully growing our unique format in the Southwest," Moran said.
Save-A-Lot has achieved success by developing a unique, limited assortment retail format. Stores offer customers the most popular size and variety of approximately 1,250 of the most frequently purchased grocery items, plus USDA-inspected meat, farm-fresh fruits and vegetables, and dairy products.
The limited assortment of products, smaller store size (14,000 to 16,000 square feet), buying power, self-procurement and distribution, and other efficiencies reduce operating expenses. Savings – up to 40% compared to conventional grocery stores – are passed along to the consumer.
"Our customer are value-oriented shoppers," Moran said. "We look forward to providing value – great food at great prices – to additional shoppers in the Dallas/Forth Worth area and surrounding markets. Those unfamiliar with Save-A-Lot will be pleasantly surprised the first time they visit a store; they'll discover that they can save time and money and that our smaller stores are easy and convenient to shop."
Save-A-Lot is a wholly owned subsidiary of SUPERVALU, Inc. SUPERVALU is one of the largest companies in the United States grocery channel. With annual revenues exceeding $20 billion, SUPERVALU has a strong network of 1,483 retail grocery locations, including licensed Save-A-Lot locations. In addition, through SUPERVALU's logistics network, the company provides distribution and related logistics support services across the nation's grocery channel.
Save-A-Lot acquires the following sites:
Dallas, TX – 5828 Abrams at Northwest Highway, 74214 Athens, TX – 505 South Palestine Street, 75751 College Station, TX – 2700 Texas Avenue, 77842 Arlington, TX – 1301 North Collins, 76011 Denison, TX – 300 South Armstrong Avenue, 75020 Fort Worth, TX – 8636 US Highway 80 West, 76116 Fort Worth, TX – 5334 Trail Lake Drive, 76133 Hurst, TX – 800-700 East Pipeline Road, 76053 Killeen, TX – 1001 Veterans Memorial Boulevard, #501F&H, 76541 Longview, TX – 1005 N. Eastman Road, 75601 Mesquite, TX – 3639 Gus Thomasson Road, 75150 Sherman, TX – 1717 Texoma Parkway, 75090 Wichita Falls, TX – 1508 Midwestern Parkway, 76302 Garland, TX – 1518 Buckingham Road, 75040 Pantego, TX – 2400 W. Pioneer Parkway at Bowen Road, 76013 Waco, TX – 1417 North Valley Mills Drive, 76711 Shreveport, LA – 9032 Mansfield Road, 71118
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