Acquires Florida Albertsons Locations
Gavin P. Smith – Griffin Report
In a major move to strengthen their Florida market presence, Florida-based Publix Super Markets, Inc. recently wrapped up a deal to purchase 49 stores from Albertson’s, LLC. The transaction includes 15 locations in North Florida, 30 locations in Central Florida and four locations in South Florida.
What makes this more interesting than any usual acquisition? One, it comes at a time where the national economy is in a ditch. Two, delivery and fuel prices have caused price surges in products on store shelves. Three, consumer demand is beleaguered by all of the ongoing economic and credit turmoil, especially in Florida where home foreclosures are hitting local pocketbooks like a greedy grim reaper. But, despite all of these conditions, the most fascinating aspect of the Publix acquisition is actually how they bought the 49 stores from Albertsons – cash.