Haggen granted approval for $68 million sale of 32 California stores

By Caroline Salls

Pittsburgh, Nov. 30 – Haggen Holdings, LLC received court approval to sell 32 store leases and related assets in central and southern California to Smart & Final Stores LLC for $68 million, according to a Smart & Final news release.

Four of the lease purchases are supplemental to Smart & Final’s previously announced stalking-horse bid.

The transaction is expected to close during Smart & Final’s fiscal fourth quarter in 2015, subject to customary closing conditions.

According to the release, Smart & Final plans to convert the 32 stores to its Extra! store format.

Haggen, a Bellingham, Wash.-based supermarket company, filed bankruptcy on Sept. 8 in the U.S. Bankruptcy Court for the District of Delaware. The Chapter 11 case number is 15-11874.

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