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SEATTLE -- Associated Grocers, Inc. said late last week it is still considering strategic options that include a sale of the cooperative wholesaler to new owners.
Following a preliminary strategic evaluation initiated by its board of directors, the coop wholesaler now said it plans to continue exploring strategic alternatives to determine the best course of action for its retail shareholders "to achieve their twin goals of attaining a stable, competitive supply chain and realize monetary returns on their investment in the company."
Following the company's January shareholders meeting, investment bank Piper Jaffray was retained to assess AG's current position, and provide strategic advice regarding alternatives for the company's future. After reviewing Piper Jaffray's report, AG said the board decided "it is in the best interest of the company's shareholders and customers to further explore all alternatives. While this is not a decision to sell the company, a sale hasn’t been ruled out."
AG is a full-service retailer-owned wholesaler providing food, general merchandise, and retail services to more than 400 stores throughout Washington, Oregon, Alaska, Hawaii, Guam, and the Pacific Rim.