Albertsons completes Safeway acquisition

2 Feb 2015

US supermarket chains Albertsons and Safeway have formally announced the completion of their planned merger, with the former acquiring the latter for a reported $9+ billion in what is said to be the largest ever deal of its kind and making the combined company the third largest grocery chain in the USA behind Kroger and WalMart. […]

Albertsons completes Safeway acquisition

http://www.dreamstime.com/royalty-free-stock-photos-food-department-supermarket-image18339188US supermarket chains Albertsons and Safeway have formally announced the completion of their planned merger, with the former acquiring the latter for a reported $9+ billion in what is said to be the largest ever deal of its kind and making the combined company the third largest grocery chain in the USA behind Kroger and WalMart. Joint sales last year were in excess of $55 billion, with the two companies having over 2,000 stores and over 250,000 employees.

“We plan to be the favourite 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.”

As previously announced, current Albertsons Chief Executive Officer Bob Miller will become Executive Chairman.

“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,” said Miller. “Our combined geographic footprint, vast range of brands and products, and service-oriented staff will enable us to meet evolving shopping preferences.”

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. 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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