Fleming Near Deal to Sell Stores to Save Mart

Fleming Cos., the largest U.S. grocery distributor, is nearing an agreement to sell 28 of its California supermarkets to Save Mart Supermarkets for about $150 million in cash and long-term liabilities, according to sources familiar with the matter. Modesto-based Save Mart also agreed to make Fleming the primary supplier to the stores. Fleming is selling 110 Food 4 Less and Rainbow Foods supermarkets so it can invest more in its distribution business and reduce its $2.4 billion in debt.