Albertsons-Safeway merger complete
Albertsons-Safeway merger complete
The Albertsons-Safeway merger, first announced in March 2014, was completed Jan. 30. Under the terms of the agreement Albertsons will acquire all outstanding shares of Safeway. 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.
Robert Edwards, Safeway's president and chief executive officer, is now president and CEO of the newly combined company. Current Albertsons CEO Bob Miller will become executive chairman.
"We plan to be the favorite local supermarket in every community we serve," Edwards said in a press release. "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."
"This is a transformative day for both Albertsons and Safeway," Miller said in the press release. "This merger creates a unified, strong organization that is dedicated to bringing a better shopping experience to more customers across the country. Our combined geographic footprint, vast range of brands and products and service-oriented staff will enable us to meet evolving shopping preferences."
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.
The new company will be comprised of three regions and 14 retail divisions, supported by corporate offices in Boise, ID, Pleasanton, CA, and Phoenix. 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.