KASH N' KARRY TO ACQUIRE SAVE AND PACK IN TAMPA, FLA.
KASH N' KARRY TO ACQUIRE SAVE AND PACK IN TAMPA, FLA. ST. LOUIS, Oct. 13 /PRNewswire/ -- Mark S. Wetterau, president and
chief operating officer of Wetterau Incorporated (NASDAQ: WETT), and Ronald J. Floto, president and chief executive officer of Kash N' Karry Food Stores, Inc., jointly announced today the signing of a letter of intent for Kash N' Karry to acquire the assets of Save and Pack, Inc.
Save and Pack, Inc. is a wholly owned food retailing subsidiary of Wetterau Incorporated and operates three super-warehouse stores in the Tampa Bay, Fla. market. The stores, located at 2525 North Dale Mabry and 11612B North Nebraska in Tampa, and 3533 U.S. Highway 19 in Palm Harbour, operate under the Save 'n Pack banner and average 78,000 square feet in size. Kash N' Karry is a $1.2 billion grocery retailer with headquarters in Tampa. Founded in 1940, the company currently owns and operates more than 110 stores throughout Florida, the vast majority of which are superstores under the Kash N' Karry name. The company intends to operate the acquired units under the Save 'n Pack name and format. The two parties anticipate the transaction will be consummated on or about Nov. 1, 1992. -0- 10/13/92 /CONTACT: Dick N. Dalton, senior vice president of Wetterau Incorporated, 314-595-4100; or Raymond P. Springer, executive vice president - administration of Kash 'N Karry, 813-621-0200/ (WETT) CO: Kash N' Karry Food Stores, Inc.; Save and Pack, Inc. ST: Missouri, Florida IN: REA SU: TNM
AH -- NY062 -- 9395 10/13/92 14:08 EDT
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|Date:||Oct 13, 1992|
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