Safeway, Albertson’s merge

U.S. grocery giants Safeway and Albertson’s announced a definitive agreement under wish AB Acquisition, owner of Albertson’s, will acquire all outstanding shares of Safeway.

The merger will create a diversified network that includes more than 2,400 stores, 27 distribution facilities and 20 manufacturing plants, and more than 250,000 employees. No store closures are expected as a result of this transaction.

Banners will include Safeway, Vons, Pavilions, Randalls, Tom Thumb, Carrs, Albertsons, ACME, Jewel-Osco, Lucky, Shaw’s, Star Market, Super Saver, United Supermarkets, Market Street and Amigos. The merger is expected to close in the fourth quarter of 2014.

“This transaction offers us the opportunity to better serve customers by adapting more quickly to evolving shopping preferences in diverse regions across the country. It also brings together two great organizations with talented management teams. Robert Edwards and his team have done an outstanding job in positioning Safeway’s core business for success, by investing in its stores and creating innovative strategic marketing programs that contribute to shareholder value. Working together will enable us to create cost savings that translate into price reductions for our customers. Together, we will be able to respond to local needs more quickly and deliver outstanding products at the lowest possible price, more efficiently than ever before,” said Albertsons’ CEO Bob Miller.

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