US grocery retailer Albertsons has announced that it has acquired Southern California-based fresh, gourmet and specialty food retailer, Bristol Farms.
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The company said the acquisition marks Albertsons’ entry into one of the industry’s fastest-growing sectors. Terms of the transaction were not disclosed.
All eleven Bristol Farms stores in Southern California will continue to operate under the Bristol Farms banner, with separate management operating the business independently from Albertsons’ traditional food and drug retail operations. Kevin Davis will continue as Bristol Farms’ president and CEO.
Bristol Farms, which has become a wholly owned but independently operated subsidiary of Albertsons, was formerly majority owned by private equity funds managed by Oaktree Capital Management.
