Albertsons Companies Acquires 29 of Haggen’s Grocery Stores

Schulte represented Albertsons Companies in connection with its acquisition of 29 grocery stores in the Chapter 11 bankruptcy case of Haggen Holdings LLC and its affiliates. The deal closed on June 1, 2016. The acquisition was subject to bankruptcy court approval and allowed Albertsons Companies to re-acquire 14 stores that Haggen bought from Albertsons Companies in 2015. The other 15 stores continue to operate under the Haggen name. This acquisition is in addition to the 30 grocery stores that Albertsons Companies acquired from Haggen during the fourth quarter of 2015. In connection with the purchase, Albertsons Companies had proposed to refinance Haggen’s existing matured debtor-in-possession financing, with the DIP financing being applied as part of the purchase price for the 29 stores.

The Schulte team who represented Albertsons Companies was led by mergers & acquisitions partner Stuart D. Freedman. The team also included employment & employee benefits partners Ronald E. Richman and Ian L. Levin, and special counsel Scott A. Gold; finance partner Ronald B. Risdon; and former Schulte lawyers James T. Bentley and Matthew J. Gruenberg.

Albertsons Companies attorneys Brad Beckstrom, Michael Dingel, Laura Donald and Patrick Madigan also worked on the deal.