Price Tag for United Disclosed at $385M
The purchase price for Albertsons’ previously announced acquisition of United Supermarkets of Lubboc…The purchase price for Albertsons’ previously announced acquisition of United Supermarkets of Lubbock, Texas, is $385 million, according to a filing this week by the Federal Trade Commission.
The terms of the deal between the two privately held companies had not previously been disclosed.
As previously reported, Boise, Idaho-based Albertsons agreed to divest two stores in Amarillo and Wichita Falls, Texas, to satisfy the FTC’s antitrust concerns related to the pending merger. United operates 51 stores in Texas under the United Supermarkets, Market Street and Amigos banners.
“The proposed merger reduces the number of supermarket competitors in the relevant geographic markets from three to two in both West Amarillo and Southwest Wichita Falls,” the FTC said in its analysis, noting that acquisition of United would have been “likely to substantially lessen competition for the retail sale of food and other grocery products in supermarkets” in those markets.
Albertsons is selling the two stores to MAL Enterprises, which operates under the Lawrence Brothers IGA, Cash Saver and Save-A-Lot banners. The divestitures must be completed by the later of Jan. 13, or 10 days following the merger with United.