RETAIL AND RESTAURANTS : If Ralphs Really Is for Sale, Food 4 Less Is Ready to Go Shopping
Rumors persist that Ralphs Grocery Co. is for sale--and that Food 4 Less in La Habra is interested in buying the Compton-based company. But Food 4 Less spokesman Darius Anderson said there have been no discussions between the companies.
“Of course we’d be interested,” Anderson said. “They’re a great company and have tremendous management. But we’ve had no discussions. We don’t even know that they’re for sale.”
Real estate developer Edward J. DeBartolo, who acquired a 60.3% stake in the Ralphs Grocery chain since 1992, reportedly is interested in selling his stake. DeBartolo of Youngstown, Ohio, and several other investors acquired the chain from Ralph’s parent company, Federated Department Stores, which filed for bankruptcy protection in 1990.
Ralphs was never technically part of the bankruptcy filings, but Ralphs was dogged by questions about its financial stability because its parent company was troubled. The dark cloud disappeared when DeBartolo’s group took control, but rumors have been circulating in the grocery industry about a possible sale.
Food 4 Less, a privately held company, owns the Alpha Beta, Boys and Viva chains.
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