NEW YORK - Yucaipa Cos., the fast-growing Southern California-based supermarket chain, has secured $430 million in loans from Bankers Trust Co. and Chase Manhattan Corp. to fund its $749 million acquisition of Chicago's Dominick's Finer Foods chain, according to a Yucaipa official.
Yucaipa, which is closely held, is also in the midst of acquiring Ralphs Supermarkets Inc., a 170-store chain also based in Southern California. Yucaipa already owns the 265-store Food 4 Less chain and the 29-store Smitty's chain in Arizona.
Terms of the 100-store Dominick's acquisition were not disclosed when the acquisition was announced in early February.
According to the Yucaipa official, the remainder of the acquisition price will be paid in cash. The acquisition includes assumption of $130 million of Dominick's debt, he said.