Albertsons To Merge With Safeway Stores
The Boise-based grocery store Albertsons is merging with Safeway supermarkets. The companies announced Thursday the acquisition could be worth more than $9 billion.
If the merger of Albertsons and Safeway is approved, the expanded company will include 2,400 stores in 34 states and Washington DC, according to investor documents.
It’s not yet clear which stores or distribution centers, if any, will close.
Safeway’s stores, located mostly in the West, will be purchased by Albertsons’ parent company Cerberus Capital Management. Cerberus purchased Albertsons and Jewel-Osco from Supervalu Inc. last year.
It’s also not clear how Albertsons’ Boise headquarters will be impacted by the deal.
On Thursday’s call with investors, the companies said Albertsons’ current CEO Bob Miller will become the executive chairman of the combined grocery chain. Safeway President and CEO Robert Edwards will retain that role with the merged company.
The Albertsons brand is a longtime Idaho company, founded by Joe Albertson in 1939.
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