Smart & Final Stores, Inc. Announces Approval of Acquisition of 32 Haggen Locations in Central and Southern California

COMMERCE, Calif., Nov. 30, 2015 /PRNewswire/ -- Smart & Final Stores, Inc., ("Smart & Final" or the "Company") (NYSE:SFS), a value-oriented food and everyday staples retailer for household and business customers, today announced that its subsidiary, Smart & Final Stores LLC, has been approved by the United States Bankruptcy Court for the District of Delaware as the purchaser of 32 store leases – four of which are supplemental to Smart & Final's previously announced stalking-horse bid – and related assets from affiliates of Haggen Holdings, LLC ("Haggen") for a total cash purchase price of approximately $68 million, subject to certain adjustments. The transaction is expected to close during Smart & Final's fiscal fourth quarter in 2015, subject to customary closing conditions.

"We're excited about the opportunity to build upon our footprint in the important California market.  This strategic acquisition puts us ahead in 'Project 100,' our plan to open 100 new stores, add 100 new teams and invest in 100 new neighborhood projects in the next four years," said Smart & Final CEO, David Hirz. "We continue to see significant room for growth within our existing markets. Through the acquisition of the Haggen stores, we will capture some of this opportunity. Our team looks forward to serving the communities of each new store," said Hirz.

The Haggen acquisition will result in Smart & Final assuming the leases and acquiring certain associated assets of 32 closed stores in central and southern California. Smart & Final plans to convert the 32 stores to its Extra! store format, which includes: expanded frozen, deli and meat selections; warehouse club sizes as well as smaller, more convenient sizes; specialty products such as oven-roasted chicken and dry bulk goods by the pound; fresh seafood; fresh produce; and an expanded natural and organic product line.

Founded by J.S. Smart and H.D. Final, Smart & Final represents one of the longest continuously operated food retailers in the United States and has become a trusted community brand in the markets it serves. Appealing to both businesses and households with its variety of offerings and different sizes, Smart & Final Extra! stores offer quality, value and a convenient one-stop shopping experience.

As part of Project 100, Smart & Final plans to hire at least 5,000 new employees to staff new stores over the next four years. Additionally, with every store Smart & Final opens, the Company will continue to give back to the communities it serves via philanthropic donations and partnerships.

The acquisition includes the following California stores previously operated under the Haggen banner:




Paso Robles

1191 E. Creston Road



8200 El Camino Real


San Luis Obispo

1321 Johnson Avenue


Santa Barbara

3943 State Street



850 Linden Avenue



7800 Telegraph Road


Simi Valley

5135 Los Angeles Avenue


Newbury Park

2100 Newbury Road


Westlake Village

5770 Lindero Canyon Road



5038 W Avenue North



3830 W Verdugo Avenue


Redondo Beach

615 N. Pacific Coast Highway



21035 Hawthorne Boulevard


San Pedro

1636 W 25th Street


Diamond Bar

240 S Diamond Bar Boulevard


Chino Hills

4200 Chino Hills Parkway


Yorba Linda

21500 Yorba Linda Boulevard


Trabuco Canyon

21672 Plano Trabuco Road


Laguna Niguel

30252 Crown Valley Parkway


Corona del Mar

3049 Coast Highway



955 Carlsbad Village Drive



9870 Magnolia Avenue


El Cajon

13439 Camino Canada


El Cajon

2800 Fletcher Parkway


San Diego

10740 Westview Parkway


San Diego

2235 University Avenue


San Diego

10633 Tierra Santa Boulevard


La Mesa

3681 Avocado Avenue



150 B Avenue


Chula Vista

360 East H Street


San Ysidro

350 W San Ysidro Boulevard


Redondo Beach

1516 S Pacific Coast Highway

About Smart & Final

Smart & Final Stores, Inc. (NYSE: SFS), is a value and quality-oriented food and everyday staples retailer that serves household and business customers. The Company is headquartered in Commerce (near Los Angeles), California, where it was founded over 140 years ago. As of October 4, 2015, the Company operated 270 grocery and foodservice stores under the "Smart & Final", "Smart & Final Extra!" and "Cash & Carry Smart Foodservice" banners in California, Oregon, Washington, Arizona, Nevada, and Idaho, with an additional 16 Smart & Final stores in northern Mexico operated through a joint venture.

Forward-Looking Statements

Certain statements contained in this release that are not historical information contain forward-looking statements. The forward-looking statements involve risks and uncertainties and actual results may differ materially from those projected or implied. Further, certain forward-looking statements are based on assumptions of future events which may not prove to be accurate. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "may," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or, in each case, their negative, or other variations or comparable terminology. The Company derives many of its forward-looking statements from its operating budgets and forecasts, which are based upon many detailed assumptions. While the Company believes that its assumptions are reasonable, it is difficult to predict the impact of known factors and, of course, it is impossible to anticipate all factors that could affect actual results. These factors are discussed in the "Risk Factors," "Special Note Concerning Forward-Looking Statements," "Management's Discussion and Analysis of Financial Condition and Results of Operations," and "Business" sections and elsewhere in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission.

You should keep in mind that any forward-looking statement made by the Company herein, or elsewhere, speaks only as of the date on which made. New risks and uncertainties come up from time to time, and it is impossible for the Company to predict these events or how they may affect it. The Company has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.

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SOURCE Smart & Final Stores, Inc.