American Stores Co. has completed the previously announced move of its headquarters from Salt Lake City to this Orange County community, the company said.
But a spokesman said American Stores still employs more people at its Salt Lake corporate branch office than at the new Irvine headquarters.American said it also has completed the sale of Lucky's 38 supermarkets in Arizona to ABCO Markets.
Also, the company said it is selling off $380 million in assets of Lucky Stores Inc., based in Dublin, Calif., which American acquired in June for $2.5 billion.
The company said it has agreed with the New York investment firm Gibbons, Green, van Amerongen to sell the 95-store Kash n' Karry supermarket group, based in Florida. The deal is expected to close next month provided the buyer gets financing. Management of Kash n' Karry will participate in the buyout.
ABCO, headquartered in Phoenix, is controlled by Odyssey Partners, a New York private investment group.
On May 19, American Stores and Lucky entered into agreement providing for acquisition of Lucky at $65 a share. Lucky then terminated its agreement with Gibbons, Green, von Amerongen for $61 a share.
The Federal Trade Commission has insisted that American and Lucky sell off some of its stores in California to meet antitrust concerns.