The parent company to acquire - 500 Beiträge pro Seite

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OGDENSBURG, Mar 18, 2008 (Watertown Daily Times - McClatchy-Tribune
Information Services via COMTEX) --
The parent company of Hacketts department stores is looking to acquire "at
least two other regional retailers."

Seaway Valley Capital Corp. of New York City also plans to open its 10th
Hacketts store in the next few months, the company announced Monday. The
merger of WiseBuys, owned by Seaway Valley, with Hacketts was finalized in
November after more than a year of negotiations.

Hacketts recently secured a $5 million line of credit from Wells Fargo
Bank's business credit division to pay for retrofitting five WiseBuys stores
to resemble Hacketts stores over the next several months, along with buying
inventory to restock shelves.

Seaway Valley also plans to announce an acquisition in the coming days. The
company recently said it was close to acquiring "a regional hospitality
company" in Central New York. The unidentified company specializes in
consumer products, has gross assets of about $13 million and generates
slightly more than $5 million in revenue.

Once the retrofits are completed, Hacketts will have stores in Canton,
Ogdensburg, Watertown, Massena, Potsdam, Gouverneur, Pulaski, Hamilton and
Tupper Lake.

Hacketts, formerly Patrick Hackett Hardware Co., is a 178-year-old retailer
that has been a True Value hardware store but has added inventory over the
past decade to convert its image into more of a department store.

Company officials didn't return calls for comment Monday.
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Copyright (C) 2008 Watertown Daily Times, N.Y.
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