A PYMNTS Company

US: Haggen agrees to sell core stores to Albertsons for $106M

 |  March 13, 2016

Haggen agreed to sell its original stronghold of Pacific Northwest stores to Albertsons in what seems to be the final chapter of a convoluted grocery-empire saga.

In a news release late Friday, the Bellingham grocer said Albertsons will acquire 29 of its so-called core stores, a group of locations in Washington and Oregon that Haggen had intended to retreat into when it became apparent its big expansion in the U.S. Southwest was doomed.

A lengthy contract filed in bankruptcy court indicates Albertsons will pay a “base amount” of $106 million, subject to various adjustments. The deal requires approval from the bankruptcy court in Delaware overseeing the dismantling of Haggen’s remains.

Albertsons bid for only 29 of Haggen’s locations. On Friday Haggen notified Washington state authorities it will be laying off 78 employees in Puyallup and 67 in Port Angeles, as these stores were not included in the deal. The Oregon City, Ore., Haggen also will be closed, provided the court gives its approval to going-out-of-business sales.

Full content: The Wall Street Journal

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.

Top Antitrust Expert Joins Cravath from Paul Weiss Top Antitrust Expert Finch Joins Cravath from Paul Weiss

Top Antitrust Expert Joins Cravath from Paul Weiss

 |  January 21, 2025

Andrew Finch, a prominent figure in U.S. antitrust law and former top official at the Justice Department during the first Donald Trump administration, has made the move to Cravath, Swaine & Moore from rival firm Paul, Weiss, Rifkind, Wharton & Garrison. Finch, who most recently co-chaired the antitrust practice at Paul Weiss, is set to join Cravath’s litigation department as a partner in New York.

According to Reuters, Finch’s tenure at the Justice Department, where he served as principal deputy assistant attorney general and acting assistant attorney general in the antitrust division between 2017 and 2019, underscores his expertise in the field. His work in government, alongside his clients at Paul Weiss, including Spirit Airlines, Uber, and Mastercard, makes him a valuable addition to Cravath’s team. At Cravath, Finch will focus on advising clients on antitrust investigations, litigation, and merger reviews, according to the firm’s announcement.

In a statement, Faiza Saeed, Cravath’s presiding partner, highlighted Finch’s credentials, noting that his experience “will be invaluable to our clients as they navigate an increasingly complex regulatory environment.” Saeed’s comments reflect the growing demand for expert guidance in the fast-evolving antitrust landscape.

The news of Finch’s departure from Paul Weiss comes just after the inauguration of President Donald Trump for his second term, a timing that adds another layer of significance to the move. A Paul Weiss spokesperson expressed well wishes to Finch, acknowledging his contributions to the firm.

Cravath’s decision to bring Finch aboard is part of a broader trend where the firm, historically known for promoting from within, has increasingly looked outside for top-tier talent. In recent years, Cravath has recruited several former government officials, including a trio of regulatory experts in 2022 to open a new office in Washington, D.C. This follows the 2022 hire of Noah Phillips, a former commissioner at the U.S. Federal Trade Commission during the Trump administration, who now co-chairs Cravath’s antitrust practice alongside Christine Varney, a former U.S. assistant attorney general for antitrust under the Obama administration.

Source: Reuters