Albertson's acquires United
Mon, 09 Sep 2013 21:30:01 GMT —
Albertson's LLC announced Monday it is acquiring Lubbock-based The United Family, which operates 51 supermarkets across the Lone Star State, including 14 in Amarillo and the Texas Panhandle.
The Boise, Idaho-based Albertson's operates more than 600 locations in 16 states.
Under the deal, United will operate as a separate business unit under the Albertson's umbrella. United's CEO Robert Taylor will continue as president of the United subsidiary, according to the reports.
"We are all very excited to be joining the Albertson's family, which will provide us tremendous opportunities to invest in our stores and grow," Taylor said in the news release. "We will continue to make decisions locally, consistent with Albertson's LLC's decentralized structure, and faithfully maintain our unwavering commitment to our Texas communities, guests and team members."'
United has been family owned since its founding in 1916. It operates 50 stores under United Supermarkets, Market Street and Amigos banners. It also runs seven convenience stores and 26 fuel centers under its United Express banner.
United operates seven stores in Amarillo - five United Supermarkets, one Market Street and one Amigos.
The company is building a new United Supermarket on Soncy Road south of Southwest 34th Avenue, with an anticipated early 2014 completion. In addition, United has launched a makeover for its Amarillo Market Street store.
The chain operates additional stores in Canyon, Borger, Perryton, Pampa, Dumas and Dalhart.
"We are grateful for and humbled by the 97 years we have had to be a part of United's mission of service," said Matt Bumstead, United Co-President and ownership family member. "With this ownership transition, we see a chance for United's impact and legacy to grow for decades to come.
erms of the agreement were not disclosed and the transaction is expected to be complete by the end of October.