This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Nash Finch Buying Bag ‘N Save Supermarkets Based In Omaha, Nebraska

Nash Finch Company (Nasdaq: NAFC), a Minneapolis-based food distributor, announced today that U Save Foods, Inc., a Nash Finch wholly-owned subsidiary, has entered into an agreement to purchase the Bag ‘N Save supermarkets located in Omaha and York, Nebraska. A family-owned business with roots in the grocery business in Omaha going back to the early 1940’s, Bag ‘N Save was founded as a company in 1981. The transaction is expected to be completed by the second quarter of 2012.

“While the decision to sell the stores was a difficult one, we believe that there are many benefits for our employee associates, local suppliers, and the community at large,” commented Leon Shrago, owner of Bag ‘N Save. “With Nash Finch’s dedication towards assisting family-owned businesses, we believe they are the best fit as the new owners of Bag ‘N Save. And our customers can look forward to a seamless change since the same friendly faces everyone is so familiar with will continue to serve our customers in the stores. The stores will continue to be supplied by the Nash Finch distribution center located right here in Omaha.” Continuing, Shrago concluded, “I want to thank all of our devoted employees for their efforts in serving our customers, local and regional suppliers, and of course, our loyal shoppers for choosing Bag’N Save. We are confident that Nash Finch, as the new owner has recognized these important relationships and will continue to serve the community with high standards we have striven to reach in the past 30 years.”

Alec Covington, Nash Finch President and CEO added, “It is exciting for us to own the Bag ‘N Save stores and to continue the Shragos’ longstanding tradition of outstanding customer service. We look forward to welcoming Bag ‘N Save employees to the Nash Finch family.”

About Nash FinchNash Finch Company is a Fortune 500 company and one of the leading food distribution companies in the United States. Nash Finch’s core business, food distribution, serves independent retailers and military commissaries in 36 states, the District of Columbia, Europe, Cuba, Puerto Rico, the Azores, Bahrain and Egypt. The Company also owns and operates a base of retail stores, primarily supermarkets under the Econofoods®, Family Thrift Center®, AVANZA®, Family Fresh Markets®, Savers Choice™, Wally’s Supermarkets™ and Sun Mart® trade names. Further information is available on the Company's website at www.nashfinch.com.

Copyright Business Wire 2010

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs