United sells to Albertsons
LUBBOCK, TX (KCBD) - United Supermarkets, now doing business as The United Family, is set to become a subsidiary of Albertsons LLC. United will operate as an independent business unit, and the names on the stores will stay the same.
United released their official statement on Monday afternoon:
United Supermarkets, LLC, d.b.a. The United Family™ (United) announced today that it has agreed to be acquired by Albertson's LLC, which currently operates more than 600 locations in 16 states. Terms of the transaction were not disclosed.
United has been family-owned since its founding in 1916 and retains deep community roots in Lubbock, Texas, where it is based, as well as the 29 other communities it serves. United currently operates 50 traditional, specialty and Hispanic grocery stores under its United Supermarkets, Market Street and Amigos banners, and 7 convenience stores and 26 fuel centers under its United Express banner. United also operates two divisions, R.C. Taylor Distributing and Praters, and one wholly owned subsidiary, Llano Logistics, which operates the company's two distribution centers in Lubbock and Roanoke, Texas.
Matt Bumstead, United Co-President and ownership family member, said, "We are grateful for and humbled by the 97 years we have had to be a part of United's mission of service. With this ownership transition, we see a chance for United's impact and legacy to grow for decades to come. With the strength and stability they (Albertson's LLC) have to offer our team members, we believe that this new ownership, working with our world-class team, can take United's vision and mission to places and levels previously beyond our reach. Our deepest thanks go out to all who have supported United and our family throughout the years. We believe United's best days are all ahead."
Upon completion of the transaction, United will operate as a separate business unit under Albertson's LLC's corporate structure. Robert Taylor, United's CEO, will continue to lead the company as president of the United subsidiary, reporting directly to Bob Miller, CEO of Albertson's LLC.
Taylor commented, "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. 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. It affords a real growth opportunity for our team members, all of our retail banners, our support units, and our Distribution Centers."
Said Bob Miller, "Over the past 97 years, the United family and leadership team have done a tremendous job in establishing and perpetuating a remarkable culture of service and commitment to fresh, quality foods throughout their stores. Their commitment to community is unparalleled. Our team feels there is an exceptional opportunity to invest in and grow their brands."
The transaction is expected to be complete by the end of October, subject to customary government approvals.
Albertsons released this statement on Monday evening:
Albertson's LLC announced today that it intends to acquire United Supermarkets, LLC, DBA The United Family, (United), based in Lubbock, Texas. United operates 50 retail stores under 3 brands; United Supermarkets, Market Street and Amigos. Additionally, their United Express brand has 7 convenience stores and 26 fuel centers. United operates two divisions, RC Taylor which distributes tobacco, candy and general merchandise, and Praters which manufactures many different prepared foods including meats, side dishes and fresh tortillas; and one subsidiary, Llano Logistics which operates 2 distribution centers in Lubbock and Roanoke, Texas. Upon completion of the transaction, United will operate as a new business unit under Albertson's LLC's company structure. Robert Taylor, current CEO, will continue to lead United in his new capacity of president, reporting directly to Bob Miller, CEO of Albertson's LLC.
"United has built an exemplary operation in Texas, complementary to our own go-to-market strategy in many respects," explained Bob Miller, chief executive officer of Albertson's LLC. "The family and leadership team have done a tremendous job in establishing and perpetuating a remarkable service culture and commitment to fresh, quality foods throughout their stores, even as they've grown. They've also developed strong community programs that have engaged team members and given back tremendously to their Texas communities, just as our Albertsons stores do every day. Our team feels there is an exceptional opportunity to invest in and grow their brands."
The chain, which had been family-owned since 1916, will continue to operate much as it does today following the acquisition. United will continue to make decisions locally, similar to the other operating divisions in Albertson's LLC. This transaction is expected to be complete by the end of October, subject to customary government approvals.
"United has an entrepreneurial spirit, just like Albertsons," continued Miller. "We've learned over the last seven years that our decentralized operating strategy empowers local management to build stronger brands across diverse market areas. United has operated much the same way in their acquisitions of R.C. Taylor and Praters in 2007 and 2009, respectively. It's a great fit between two great companies. United runs a fantastic operation, and will maintain its own unique identity."
Said Robert Taylor, CEO of United, "United will continue to make decisions locally and maintain a strong commitment to our Texas communities, our guests and our team members. The opportunities presented to us to invest in our stores and grow with this transaction are tremendous."
Currently, Albertson's LLC operates 76 stores in Texas, the majority of which are in the Dallas-Fort Worth Metroplex, and has just over 600 stores company-wide. After the acquisition is complete, Albertson's LLC will operate approximately 650 stores and 11 distribution centers in 16 states.
Sagent Advisors, LLC acted as exclusive financial advisor to United on the transaction. Citigroup acted as financial advisor to Albertson's LLC.
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