CARR GOTTSTEIN FOODS CO. ELECTS NOT TO PROCEED WITH PROPOSED SALE/LEASEBACK TRANSACTION.ANCHORAGE, ALASKA--(BUSINESS WIRE)--AUGUST 7, 1995--Carr Gottstein Foods Co. (NYSE NYSE See: New York Stock Exchange : CGF CGF Commonwealth Games Federation (UK) CGF Computer Graphics Forum CGF Computer Generated Forces CGF Chlorella Growth Factor CGF Charging Gateway Function CGF Crystal Growth Furnace CGF College Golf Foundation ), the largest food and drug retailer in Alaska, today announced that it elected not to pursue a previously announced proposed real estate sale/leaseback transaction. The Company decided that the terms and conditions of the sale/leaseback transaction would not be in the long-term best interest of the Company. The Company indicated that expenses incurred in connection with the proposed transaction, currently estimated at approximately $2 million, would be included in its third quarter results. Carr Gottstein Foods operates 38 stores in Anchorage, Fairbanks, Juneau, Ketchikan, the Kenai Peninsula Kenai Peninsula (kē`nī), S Alaska, jutting c.150 mi (240 km) into the Gulf of Alaska, between Prince William Sound and Cook Inlet. The Kenai Mts., c.7,000 ft (2,130 m) high, occupy most of the peninsula. and other Alaska communities, as well as the state's only full-line food warehouse and distribution center, and in addition operates Alaska's largest freight company Freight companies are companies that specialise in the moving ("forwarding") of freight, or cargo, from one place to another. They are divided into several sections, international freight forwarders--which ship goods from country to coutry or domestic freight forwarders (who ship . Annual revenues in 1994 were $577.1 million. CONTACT: Don Anderson Senior Vice President and CFO See Chief Financial Officer. Carr Gottstein Foods Co. 907/564-2124 or Mary Ann Dunnell Robinson Lake Sawyer Miller 212/484-7797 |
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