Agreement to sell 10 grocery stores

Posted by New Mexico Real Estate

June 23, 2007

Raley’s has announced it reached an agreement to sell its 10 grocery stores in New Mexico to Albertson’s.

The sale was expected to be complete in August. It involves one closed and six operating stores in Albuquerque, two in Rio Rancho and one in Taos.

Bill Coyne, Raley’s president and chief executive officer, said on June 12 that the company, based in Sacramento, Calif., wants to focus on its markets in California and Nevada.

Raley’s has about 840 employees in New Mexico, and Coyne said the company worked hard in negotiating the sale to protect employment where possible. A spokeswoman with Albertson’s said it’s too early to say whether the company will hire Raley’s employees. Albertson’s has eight stores in the Albuquerque area.

The Albuquerque Tribune

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