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Cost-U-Less to be Acquired
Chain Store Age
Tuesday, August 28, 2007
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Cost-U-Less Inc. on Monday agreed to be acquired by Canadian food retailer Northwest Co. for about $50.5 million in cash. The companies put the total value of the deal at $52.2 million.
Northwest said it will pay for the deal with cash and existing credit lines.
The company expects the purchase to add to earnings in 2008 and to save about $3 million a year in operating costs.
Companies referred to in story:
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