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Tesco Readies for U.S. Debut

Details have emerged about British grocer Tesco's first U.S. location. The company, which has held its own against Wal-Mart's Asda chain in the United Kingdom, made headlines earlier this year when it announced plans to expand to the United States. At the time it said it would roll out a collection of convenience stores on the West Coast. But one of its first locations will be more ambitious than that. The company reached an agreement to open a 32,500-square-foot supermarket in Glassell Park, Calif. in partnership with Newport Beach, Calif.-based Heslin Holdings Inc., and San Diego — based Retail Holdings LLC. The property is a former Albertson's and is part of a larger package of stores that Heslin acquired from Albertson's. Tesco has committed to spend $435 million annually in its effort to expand to the United States.

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