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Albertsons-Safeway merger completed. (Photo Credit: Coolcaesar /CC BY-SA 3.0)
Safeway-Albertsons Merger Complete After Lengthy FTC Review
(UNITED STATES, 2/2/2015)
Albertsons and Safeway, have announced that they have completed their proposed merger, deal that was announced in March 2014. Under the terms of the merger agreement AB Acquisition LLC, the owner of Albertson’s LLC and New Albertson’s, Inc. will acquire all outstanding shares of Safeway.
As a result of the completion of the merger transaction, the common stock of Safeway will no longer be listed for trading on the New York Stock Exchange or any other securities exchange.
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| Robert Edwards. |
“We plan to be the favorite local supermarket in every community we serve,” said Safeway President and Chief Executive Officer Robert Edwards, who becomes President and CEO of the newly combined company, effective immediately.
“We will do this by knowing, listening to, and delighting our customers; providing the right products at a compelling value; and delivering a superior shopping experience. We will also continue to be active members of our local communities,” said Edwards.
As previously announced, current Albertsons Chief Executive Officer Bob Miller will become Executive Chairman.
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| Bob Miller. |
“This is a transformative day for both Albertsons and Safeway. This merger creates a unified, strong organization that is dedicated to bringing a better shopping experience to more customers across the country,” commented Miller.
“Our combined geographic footprint, vast range of brands and products, and service-oriented staff will enable us to meet evolving shopping preferences,”said Miller.
The merger will create a diversified network that includes 2,230 stores, 27 distribution facilities and 19 manufacturing plants with over 250,000 employees across 34 states and the District of Columbia.
In December, the companies announced the sale of 168 stores to four separate buyers, as divestitures required in order to secure U.S. Federal Trade Commission approval of the transaction.
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| The newly merged company has more than 2,400 stores and over 250,000 employees, which makes it the second largest supermarket chain in North America after The Kroger Company. |
About Safeway Inc.
Safeway Inc., which operates Safeway, Vons, Pavilions, Randalls, Tom Thumb, and Carrs stores, is a Fortune 100 company and one of the largest food and drug retailers in the United States with sales of USD 35.1 billion in 2013.
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| The American supermarket chain Safeway agreed in early 2014 to be acquired by a group of private equity investors led by Cerberus Capital Management, which also owns Albertsons. |
About Albertsons
Established in 2006, AB Acquisition LLC (“Albertsons”), which operates ACME, Albertsons, Jewel-Osco, Lucky, Shaws, Star Market and Super Saver, and stores under the United Family of stores, Amigos, Market Street and United Supermarkets, is working to become the favorite food and drug retailer in every market it serves. The company is privately owned by Cerberus Capital Management, Kimco Realty Corporation, Klaff Realty, Lubert-Adler Partners, and Schottenstein Stores Corporation.
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| On January 30, 2015, Albertsons officially acquired Safeway Inc. after being cleared by the FTC., thus giving it control of the Safeway store banners, including Randalls, Tom Thumb, Carrs Safeway, Vons, and Pavilions. |
Source: Albertsons
[email protected]
www.seafood.media
Information of the company:
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Address:
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1219 Broadway Avenue
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City:
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Boise
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State/ZIP:
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Idaho (ID 83706)
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Country:
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United States
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Phone:
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+1 (208) 336-5278
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E-Mail:
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[email protected]
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