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KANSAS CITY, Kan. - Kansas City-based Associated Wholesale Grocers, which owns Food 4 Less, has said it will buy five Albertson's stores in Kansas, The Wichita Eagle reports. Four of the stores are in Wichita and one is in Topeka.
Albertson's decided to leave Kansas after the company "determined these five stores did not build shareowner value and could not attain significant market share," company officials said in a written statement.
Officials expect the Albertson's stores to close April 28, the day before Food 4 Less completes the transaction and reopens the stores it is keeping. After the sale, Food 4 Less will operate 11 stores in the Wichita area, according to the newspaper.
When Food 4 Less' parent company learned that Albertson's planned to leave Kansas, it saw an opportunity to buy stores instead of remodeling them, said Stan Edde, Falley's/Food 4 Less president.