Paul's Market, Albertsons announce agreement

Posted at 3:44 PM, Feb 15, 2016
and last updated 2016-02-15 19:14:14-05

Albertsons Companies announced Monday that it has entered into an agreement to purchase and rebrand four Idaho-based Paul’s Market stores. 

In a news release, Albertsons will be rebranding the Paul’s Market stores at 20 East Wyoming in Homedale, 700 East Avalon in Kuna, 10565 Lake Hazel Road in Boise, and 132 East Lake in McCall

Separately, Paul’s Market also announced plans Monday to close its three stores in Caldwell, Mountain Home and Nampa.  As a part of the transaction, Albertsons will acquire the properties. 

 “Over its many years operating retail food stores in the region, Paul’s Market has developed an outstanding reputation for quality, selection and service,” said Brad Street, Albertsons Intermountain Division President.  “We are excited to have the chance to add experienced retail employees to our ranks, as well as the opportunity to build on that foundation and earn the trust of Paul’s Market loyal customer base.” 

Albertsons Intermountain Division operates 84 stores in Idaho, Montana, Wyoming, Utah, Colorado, North Dakota and Nevada.  

“From the day that our family opened the first Paul’s Market store in 1955, we have been a proud Treasure Valley grocer, and we know that the folks at Albertsons share our values and commitment to providing the best to our communities,” stated Stan and Steve Zatica, co-owners of Paul’s Market, in a news release. “We sincerely thank our communities for 60 years of shopping with us, and we look forward to watching how these stores evolve to serve their customers for the future.” 

The transaction is subject to customary closing conditions. The parties anticipate and hope to close the deal for these stores sometime in April.

It is unclear how the transaction, if approved, would impact Paul’s Market employees.

Both chains declined further comment.