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WEST BRIDGEWATER, Mass. - Shaw's Supermarkets Inc. prevailed in the final bidding for control of 18 former Ames Stores at an open auction on Friday in New York. Shaw's successful bid for the property assets was $75.5 million.
Shaw's recently named president and CEO Paul Gannon said: "We are delighted that we obtained approval for Shaw's competitive offer that allows us to acquire these 18 former Ames Stores. This purchase further strengthens Shaw's position as the second largest food retailer in New England. The properties offer an exciting opportunity to expand in a variety of ways: replacement stores, new stores and some real estate opportunities."
The stores, located in Massachusetts, New Hampshire, Vermont, Maine and Connecticut, are all scheduled to be converted to supermarkets.
West Bridgewater, Mass.-based Shaw's, a division of British supermarket chain J. Sainsbury, said it will be making further announcements in the coming weeks and months. Shaw's operates 185 food stores in New England under the Shaw's and Star Market banners.