BOISE, Idaho and PLEASANTON, Calif., Dec. 19, 2014 /PRNewswire/ -- AB Acquisition
LLC (Albertsons) and Safeway Inc. (NYSE: SWY) announced today that
they have entered into agreements, subject to approval by the
Federal Trade Commission (FTC), to sell 168 stores across eight
states to four buyers:
- Associated Food Stores (AFS) will purchase eight stores in
Montana and Wyoming;
- Associated Wholesale Grocers (AWG) / Minyards will
purchase 12 stores in Texas;
- SUPERVALU will purchase two stores in Washington; and
- Haggen will purchase 146 stores across Arizona, California, Nevada, Oregon and Washington.
Divestiture of these stores is being undertaken in order to
secure FTC clearance of the companies' proposed merger, which was
announced in March and is expected to close in January 2015. The purchase agreements with the
four buyers are all subject to approval by the FTC.
Under the terms of the purchase agreements, the buyers will
acquire the stores, equipment and inventory, and they intend to
hire most, if not all, of the store employees upon the closing of
the purchase of the stores. For a complete list of stores to be
divested, please visit: http://www.albertsons.com/tellmemore.
"We're pleased to have found strong buyers for these stores and
to have completed this important step toward combining Albertsons
and Safeway," said Safeway President and Chief Executive
Officer Robert Edwards, who will
serve as the combined company's President and CEO. "We look forward
now to the transaction's close, so we can begin working together to
enhance the loyalty of grocery shoppers by delivering high quality
products, great service and lower prices to become the favorite
local supermarket in every neighborhood we serve."
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 $35.1 billion in 2013.
The company operates 1,326 stores in 20 states and the District of Columbia, 13 distribution centers
and 19 manufacturing plants, and employs approximately 138,000
employees. The company's common stock is currently traded on the
New York Stock Exchange (NYSE) under the symbol SWY. The company
will be delisted from the NYSE upon closing of the merger. For more
information, please visit www.Safeway.com.
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 area it serves. The company is
privately owned by Cerberus Capital Management, Kimco Realty
Corporation, Klaff Realty, Lubert-Adler Partners and Schottenstein
Stores Corporation, and currently operates 1,081 stores and 14
distribution centers in 29 states and employs approximately 115,000
associates. For more information, please visit
www.Albertsons.com.
Forward-Looking Statements
This press release contains certain "forward-looking" statements
as that term is defined by Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These statements are indicated by words such as
"expects," "will," "plans," "intends," "committed to," "estimates"
and "is." No assurance can be given that any of the events
anticipated by the forward-looking statements will transpire or
occur. Accordingly, actual results may differ materially and
adversely from those expressed in any forward-looking statements.
Neither Safeway nor any other person can assume responsibility for
the accuracy and completeness of forward-looking statements. There
are various important factors that could cause actual results to
differ materially from those in any such forward-looking
statements, many of which are beyond Safeway's control. These
factors include: failure to obtain, delays in obtaining or adverse
conditions contained in any required regulatory or other approvals;
failure to consummate or delay in consummating the transactions
described herein for any other reasons; changes in laws or
regulations; and changes in general economic conditions. Safeway
undertakes no obligation (and expressly disclaims any such
obligation) to publicly update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise. For additional information please refer to Safeway's
most recent Form 10-K, 10-Q and 8-K reports filed with the
Securities and Exchange Commission.
Media Contacts:
Christine Wilcox
christine.wilcox@albertsons.com | 208-395-4163
Brian Dowling
brian.dowling@safeway.com | 925-467-3787
Investor Contact:
Christiane Pelz
925-467-3832
Logo -
http://photos.prnewswire.com/prnh/20140919/147280
Logo - http://photos.prnewswire.com/prnh/20140919/147279
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/albertsons-and-safeway-confirm-agreements-to-sell-168-stores-in-eight-states-to-four-buyers-300012636.html
SOURCE Safeway Inc.