Borman’s Selling Western Supermarket Operations
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Borman’s Inc. is negotiating the sale of its Western supermarket operations and expects to receive $28.7 million in net proceeds, according to a Securities and Exchange Commission filing.
A majority of the 61 stores in Utah, Nevada, Idaho, Wyoming and Oregon have already been sold through the company’s wholly owned subsidiary, SEG Stores Inc., according to Gilbert Borman, director of public relations. He would not divulge the purchase prices.
By April 15, the company had sold 22 stores under the terms of an agreement with Fleming Cos. Eight stores were sold as part of an an agreement with Albertson’s Inc., and six additional stores were sold to unaffiliated individual operators, according to the filing.
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