Albertsons parent Cerberus is buying Safeway for more than $9 billion
SEAFOODNEWS.COM March 7, 2014
Albertsons is making a play for the top spot in the U.S. grocery industry with the purchase of rival Safeway for more than $9 billion in cash and stock.
Safeway, now the second-largest chain behind Kroger Co., owns the Vons and Pavilions brands in Southern California. With the purchase, Albertsons would operate more than 2,400 stores, compared with Kroger's 2,640.
Board members of Safeway, based in Pleasanton, Calif., unanimously approved the transaction, which is expected to close in the fourth quarter, assuming it passes muster with antitrust regulators.Full Story »