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Food fight!

Last week's announcement by Wal-Mart Stores Inc. that it was acquiring the grocery chain Phillips Cos. left a lot of questions unanswered.

For example, what is the ousted Phillips chairman, John Phillips, going to do?

Reports say Phillips is leaving to pursue other interests, including charity work such as the annual Phillips Classic.

Other questions left unanswered are the value of the deal and just how it is structured.

Wal-Mart realized it needs a new project to keep the Bentonville-based company on its growth path.

As one Little Rock analyst puts it, "Once they've got California and New England saturated, what is there to do?"

Wal-Mart has decided the grocery business is its next big opportunity.

Remember Food Lion?

The Salisbury, N.C.-based grocery chain has done for the grocery business what Wal-Mart did for discount stores.

Wal-Mart is tired of watching Food Lion and others such as Bruno's Inc. of Birmingham, Ala., have all the fun food fights.
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Title Annotation:Wal-Mart Stores Inc. acquires grocery chain Phillips Cos.
Publication:Arkansas Business
Date:Oct 7, 1991
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