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BOISE, Idaho -- On the heels of its announcement to spend $1 billion in Southern California and nearly $200 million in Dallas/Forth Worth over the next several years, supermarket giant Albertsons Inc. said it will invest more than $100 million to remodel many of its 28 Oklahoma units, as well as to build new locations and construct fuel centers.
The move comes as part of a strategic shift that shows the company withdrawing from some markets like Houston and Nashville, while saturating other growing metropolitan areas.
"Oklahoma has been a very successful market for Albertsons, and we see significant opportunity for additional growth," Albertsons CEO and Chairman Larry Johnston said as the company broke ground Wednesday on its latest location in Tulsa.
Noting the company's market dominance in Tulsa and its number two position in Oklahoma City, Johnston said, "Our goal is to improve these strong market positions through a focused program that expands our presence in the state and simultaneously enhances the levels of service and other consumer benefits offered at our stores."
Tulsa Mayor Bill LaFortune hailed Albertsons' commitment to the city. "We are acutely aware of Albertsons' exciting future in Tulsa and the entire state of Oklahoma," said LaFortune. "Albertsons has been a good corporate citizen, not only helping to fuel the local economy, but also donating to multiple charitable initiatives through the years. We look forward to a continued strong relationship with this wonderful company."