Posted on 09/18/2005 10:32:04 AM PDT by RayChuang88
LONDON (Reuters) - Britain's largest retailer Tesco has sent an in-house team to the United States to consider a bid for Albertsons (ABS), the American grocery chain with 2,500 stores, the Business paper reported.
Earlier this month, Albertsons said it had hired investments bankers to explore its options and would consider putting itself up for sale, with a price tag of $7.6 billion, as it grapples with intense competition from Wal-Mart Stores (WMT).
Tesco, which reports half-year results this week, has yet to find a vehicle to enter the lucrative U.S. market and is using the team to identify takeover opportunities, the paper said.
(Excerpt) Read more at finance.myway.com ...
We don't want Tesco coming to US. Trust me on this one.
Albertsons anf like grocery store are suffering from old stuck-up suck ass, no service, high priced houty touty crap and thinking!
Even paying $2.50 a gallon of gas, I'll travel miles further to avoid shopping at my local Albertson's where false advertising and surly union workers lay in wait to ruin my day.
Believe me, when the Wal-Mart Supercenters in Sacramento County, CA starts opening (the first one in Citrus Heights, the second one in Elk Grove), they will take away a LOT of business from supermarkets nearby (well, unless you're a place like WinCo, which is essentially an oversized supermarket with enormous buying clout).
Wow. Just goes to show how different peoples' experiences can be. I never heard of Albertsons until I came to Seattle. I don't have a car, they have an online shopping service - I've been a loyal customer for the past 4.5 years.
Whether it's the delivery service or the in-store staff, I've had nothing but positive experiences w/them. Even when I've had a problem, it's been resolved curteously and always in my favor.
Coming from the DC area, the prices didn't seem expensive to me, so I can't complain about those, either.
Yea, but they make the best fried chicken of any grocery store chain!
I am proud to say that I got the entire Albertsons corporation sued when I was in high school; albeit by the union, but sued non-the-less. I was a 17-year-old kid doing electrician work on the lights (I was most assuredly not an electrician) and caught a store on fire. Man the union loved me. The main union guy came to my store to personally talk with me. Going thing I joined the Air Force shortly thereafter or I am sure I would have been out of a job.
To this day my parents get the evil eye when the are forced to make purchases at that store.
Sorry all, nothing official to add, I just wanted to add my Albertsons story.
The one thing I've always been annoyed at with Albertsons was the high prices and on some items, especially their beef, low quality. If I want frozen dinners, chips and other snacks, I'll drive an extra mile to our nearby SuperWallyWorld. If I want beer or good, fresh meat, I'll drive up the street to a locally owned grocery store that gets by on name and an outstanding reputation.
I can understand Albertson's shareholders wanting to cash out, but why would anyone want to buy into the US grocery market right now.
I was an Alberson's regular until they changed their marketing strategy a few years ago and raised prices across the board. Now Wal Mart gets my commodity business and Kroger gets a visit if I want meat or high end produce. Albertson's is the closest, but it needs a good cleaning. And I don't even bother to keep track of where the Safeway owned stores are.
Tesco helped Safeway/Vons set up their home delivery business, and may now be in competition with them. Interesting.
What's the problem with Tesco?
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