The Syracuse Post-Standard and a number of other publications report that Albertsons "has reportedly dropped its efforts to buy Schenectady-based Price Chopper," a purchase that some estimates suggested would cost it $1 billion.
Albertsons is said to be more focused at the moment in going through an IPO.
Price Chopper is owned by Golub Corp. Golub operates 136 Price Chopper and Market 32 stores New York, Vermont, Connecticut, Pennsylvania, Massachusetts and New Hampshire. A purchase by Albertsons would have given it a significant presence in a part of the country where it is under-represented.
Albertsons is said to be more focused at the moment in going through an IPO.
Price Chopper is owned by Golub Corp. Golub operates 136 Price Chopper and Market 32 stores New York, Vermont, Connecticut, Pennsylvania, Massachusetts and New Hampshire. A purchase by Albertsons would have given it a significant presence in a part of the country where it is under-represented.
- KC's View:
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I'm not surprised by this since I never believed that the company was for sale. I think that Price Chopper might, under the right circumstances, be interested in attracting some investment along the lines of how Kroger put some money into Lucky's Markets. But an outright sale? I've always said tat I'll only believe that when Neil Golub calls me and tells me it is true.
