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BOISE, Idaho -- Albertson's LLC yesterday received the necessary state and Federal government approvals to buy 10 Raley's stores in the Albuquerque, Rio Rancho, and Taos, areas of New Mexico. Albertson's said the transaction is expected to close today.
"We've been given the customary government approvals to be able to welcome the Raley's stores into our operation," said Bob Colgrove, president of Albertson's LLC's Southwest division.
The nine operating Raley's stores were to close yesterday. Albertsons said it will reopen two of the stores in Albuquerque on August 14th for a liquidation sale. These locations, along with the acquired site at Juan Tabo, will be marketed to a new retail tenant, the chain said. The other seven stores will re-open as Albertsons locations on August 17.
Despite deciding to close several of the stores, Albertson's LLC said it was able to hire nearly all of the employees who expressed an interest in working for the company.
"[I'll] be working with such a talented group of people here in New Mexico," said Colgrove. "There's so much that Albertsons can learn from this experienced group and we know that our consumers will soon see the synergies that will come of this relationship."
Albertson's LLC is privately owned and operates stores under the Albertson's banner in Arizona, Arkansas, Colorado, Florida, Louisiana, Nebraska, New Mexico, South Dakota, Texas, and Wyoming.