March 29, 1988 |
American Stores, owner of Alpha Beta supermarkets, launched a $1.7-billion takeover offer for Lucky Stores on Monday in a bid to become perhaps the nation's largest food and drug store company. Within hours after making the $45-a-share offer, American Stores Chairman L. S. (Sam) Skaggs fired off a letter to Lucky saying his firm is prepared to hike its bid to $50 a share, or $1.9 billion, if the two companies can reach agreement "without undue delay."
March 23, 1988 |
The owner of Alpha Beta and Sav-on Osco stores--which has grown to a $14-billion drug and food giant in less than two decades--has achieved its growth record primarily by acquiring established, usually successful, companies. On Monday, American Stores Inc., with headquarters in Salt Lake City, proposed to add another name to its properties, bidding $1.74 billion for Lucky Stores Inc. of Dublin, Calif. "American Stores . . .
September 14, 1988 |
L. S. Skaggs will retire as chairman and chief executive of American Stores Co., the nation's largest supermarket owner, as soon as a successor is found. The change-of-command announced Tuesday by the Irvine-based company had long been expected by company insiders. Skaggs, who recently reached American Stores' mandatory retirement age of 65, announced several years ago that he expected to retire after he reached that age.
June 5, 1988 |
L.S. (Sam) Skaggs, the 64-year-old chairman of American Stores, is used to running his own show. The grandson of a Tennessee Baptist minister who opened a Skaggs Cash Store in 1915 in Idaho to guarantee low prices for his congregation, Sam Skaggs has headed the family company since 1950. Since then, he has developed a reputation for savvy acquisitions and profitable asset sales. "He's a very shrewd businessman who's got strong ideas on what he wants to accomplish," said one industry executive.
January 27, 1989 |
Less than a year after moving its corporate headquarters to Irvine, American Stores Co. has decided to move back to Salt Lake City. Chief Executive Officer Jonathan L. Scott will move to the Salt Lake City offices by Wednesday, company spokesman Troy D'Ambrosio said, adding that other corporate personnel are expected to follow soon after. The relocation involves about 30 executives and support personnel.
July 21, 1992 |
Claude W. Edwards, chosen in 1922 by three brothers to direct what would become the Alpha Beta supermarkets and whose 51 years with the company included a merger with the giant American Stores chain, has died. William Deeley II, his grandson, said Monday that Edwards was 88 when he died July 12 in Laguna Beach, where he had lived since retiring in 1973.