MEGAFOODS ANNOUNCES AGREEMENT TO ACQUIRE STORES FROM THE KROGER CO.
MESA, Ariz., Aug. 10 /PRNewswire/ -- Megafoods Stores Inc. (NASDAQ: MEGF) announced the execution of a definitive agreement to acquire from The Kroger Co. (NYSE: KR) 15 stores in San Antonio. The companies previously announced a letter of intent on July 21, 1993. The closing of the contract is scheduled for Aug. 11. Megafoods will immediately commence a total remodel and re-equipping of these stores. The stores, which will offer a full line of grocery items, including an extensive produce selection, deli/bakeries and check cashing services, are scheduled to open Oct. 15. The stores will operate in a similar format to Megafoods' Arizona stores which are open 24 hours and charge no membership fees. Megafoods will release its second quarter results for the period ended July 3 on Thursday, Aug. 12. An investor telephone conference will take place that day. Investors and their advisors interested in participating should call Sondra Mize for details. -0- 8/10/93 /CONTACT: Jack J. Walker, CFO, 602-957-3152, or Sondra L. Mize, investor relations, 602-545-3235, both of Megafoods Stores/ (MEGF KR)
CO: Megafoods Stores Inc.; The Kroger Co. ST: Arizona, New Mexico IN: REA SU: TNM
LS-JL -- LA011 -- 0972 08/10/93 05:00 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Aug 10, 1993|
|Previous Article:||TOYOTA HELPS DEALERS PROTECT ENVIRONMENT WITH ENVIRONMENTAL ASSISTANCE NETWORK HOTLINE|
|Next Article:||WESTERN GAS RESOURCES INC. ANNOUNCES SECOND QUARTER RESULTS|