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INITIAL PUBLIC OFFERING OF 8,800,000 SHARES OF COMMON STOCK OF CARR-GOTTSTEIN FOODS CO. AT $14.50 PER SHARE

 NEW YORK, July 1 /PRNewswire/ -- Donaldson, Lufkin & Jenrette Securities Corporation, Salomon Brothers Inc and Piper Jaffray Inc., as underwriters, announced today the initial public offering of 8,800,000 shares of common stock of Carr-Gottstein Foods Co. at a price of $14.50 per share. Of the 8,800,000 shares of common stock being offered, 5,757,279 shares are being issued and sold by the company and 3,042,721 shares are being sold by selling stockholders. The company and certain of the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1,320,000 shares of common stock to cover over-allotments, if any. The common stock has been approved for listing on the New York Stock Exchange under the symbol "CGF."
 Of the 8,800,000 shares of common stock offered, 7,040,000 shares are being offered in the United States and Canada by the U.S. Underwriters and 1,760,000 shares are being offered in a concurrent offering outside the United States and Canada by International Underwriters.
 Net proceeds from the offering will be used to reduce certain indebtedness, including indebtedness owed to certain selling stockholders.
 Carr-Gottstein Foods Co., headquartered in Anchorage, Alaska, is the largest food and drug retailer in Alaska, with 32 stores located in Anchorage, Fairbanks, Kenai and other Alaska communities. The company operates a chain of 13 super-combination food, general merchandise and drug stores under the name Carrs Quality Centers. The company also operates three smaller combination stores under the name Eagle Quality Centers, one neighborhood food store under the name Foodmart, and a chain of 15 wine and liquor stores under the name Oaken Keg Spirit Shops.
 -0- 7/1/93
 /CONTACT: William Kretschmer or Gregory Carr of Carr-Gottstein Foods Company, 907-564-2124/


CO: Carr-Gottstein Foods Company ST: New York IN: FOD SU: OFR

TM -- NY109 -- 8008 07/01/93 21:12 EDT
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Publication:PR Newswire
Date:Jul 1, 1993
Words:319
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