AccessMyLibrary provides FREE access to millions of articles from top publications available through your library.
Raley's Inc. will pay in the neighborhood of $300 million or more for Nob Hill Foods Inc., according to estimates by retail analysts.
As first reported by the Sacramento Business Journal two weeks ago, Raley's Inc. announced this week it will buy Nob Hill Foods, a 27-store chain of supermarkets based in Gilroy.
Neither Raley's nor Nob Hill Foods' parent company, Nob Hill General Stores Inc., is revealing the amount of the cash deal. Nob Hill has annual sales of almost $400 million and 2,400 employees. Raley's projects its 1997 revenue at $2 billion.
"I would say a good guess would be in the $300 million range," said Doug Christopher, analyst with Crowell, …