Fleming (NYSE:FLM) Friday (19 August) announced that the company has reached an agreement to acquire five Smith’s Food & Drug stores from Kroger in the El Paso, Texas and Las Cruces, N.M. markets. The five Smith’s stores, which Fleming will operate as part of the company’s growing price impact retail group under the Rainbow® banner, include:
- 5200 Montana Avenue, El Paso, Texas
- 11320 Montwood Drive, El Paso, Texas
- 701 N. Zaragosa, El Paso, Texas
- 5210 Fairbanks, El Paso, Texas
- 2200 E. Lohman, Las Cruces, N.M.
“Rainbow is committed to delivering low prices and the highest quality perishables, and we are very excited about introducing the compelling price impact supermarket concept in these communities,” said Tom Dahlen, Fleming Executive Vice President and President, Retail and Marketing. “These stores fit with our growth plans for our price impact retail operations and our geographic strategy for West Texas.”
Per the terms of the agreement with Kroger, Fleming will hire substantially all of the current associates of the five Smith’s stores. “One of the great assets of these five stores is the quality associates. We look forward to meeting with each of the associates and introducing our plans for growth in the market,” said Dahlen.
Fleming is the industry leader in distribution and has a growing presence in value retailing. Fleming’s primary business is buying and selling merchandise. The company serves approximately 3,000 supermarkets including more than 700 North American stores of global supermarketer IGA and other regional banners, 5,000 convenience stores and more than 2,000 supercenters, discount, limited assortment, drug, specialty, and other businesses across the country. To learn more about Fleming, visit our Web site at www.fleming.com.