![]() ![]() “I tried with Kroger’s - y’know, Freddy’s, and I couldn’t get to first base.” But not, he says, because of the recapitalization.Three Bears Alaska has built 10 stores in Alaska, including this one in Healy that opened in 2017. And gasoline and other fuels may go up because of volatility in energy-markets. “As the business grows, they’re often able to get better pricing from the national brands and the distributors and supplier,” he said.Ĭartales says some prices may rise because of inflation. But Cartales says greater economies of scale may even drive prices down. Nofsinger says that sometimes happens when a private-equity firm invests in a company. “There’s no change at the management level, there’s certainly no change at the store level.”Ĭartales says customers shouldn’t worry about Three Bears raising prices as a result of the recapitalization. “As far as this transaction’s impact on them, it’s going to be business as usual,” he said. And in 2017, it opened its 10th store in Healy. That’s where Three Bears was founded in 1980, and where it built a hardware store in October. But he says they may see improvements, as the company continues to remodel its existing stores, like it did two years ago in Tok. “There’s a diversified shareholder base of Alaskans, and they’ll maintain Alaska control over an Alaskan company,” he said.Ĭartales says that means customers probably won’t notice much change in the operation of Three Bears stores. And the company spokesperson confirmed that the Weisz family, which launched the business in 1980, still retains majority ownership. And then there’s debt.”Ĭartales says the deal didn’t involve Westward Partners buying Three Bears debt. There’s the equity side, for a public company that would be like buying their stock. “A recapitalization is simply a major, substantial change in a company’s capital structure,” he said. So they’re not required to tell us much of anything.”īut Nofsinger offered a few observations on the deal in an interview Friday, beginning with a definition of a recapitalization. “In this particular case,” he said, “we don’t have a lot of information, because this is a private-equity firm, and they’re helping to recapitalize Three Bears Alaska, which is also a private company. He’s the dean of the University of Alaska Anchorage’s College of Business and Public Policy. And that’s not unusual, says John Nofsinger. “When you’re working on real estate deals and things like that, you don’t want to give away all your plans,” he said in an interview last week.Ĭartales and the company spokesperson both said in interviews last week that they couldn’t offer many details of the deal, for proprietary reasons. But Cartales and a Three Bears spokesperson both declined to say where the new stores may be built. The store got a facelift two years ago, and last October, the company completed construction of a hardware store next door.Ĭascadia Capital announced the deal on March 17 th. Three Bears Alaska The Weisz family established Three Bears when it opened its first store in Tok in 1980. ![]() “And that’s what this deal was really all about.” ![]() “Folks should certainly expect to see more Three Bears stores going up around the state of Alaska in the next one, two, three years,” says James Cartales, the managing director of Cascadia Capital, an investment banking firm that’s also based in Seattle. And Three Bears officials say we’ll soon be seeing more of the stores, now that the company has completed a deal with Seattle-based Westward Partners. Thery’re located in small to midsize communities, sometimes the only grocers in town. They’re mostly grocery stores, and some have gas stations or hardware or sporting-goods shops. Three Bears Alaska owns and operates nine retail outlets around the state, and one in Montana. Officials with the Wasilla-based grocery- and retail-store chain Three Bears Alaska say they intend to expand operations in the state now that they’ve entered into a deal with a private-equity firm based in the Pacific Northwest. Deal will allow Wasilla-based grocery/retail chain to ‘maintain Alaska control over an Alaskan company’ ![]()
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