Posted on 03/07/2014 5:01:05 AM PST by djf
PLEASANTON, CA and BOISE, ID — March 6, 2014—Safeway Inc. (NYSE: SWY) and Albertsons announced today a definitive agreement under which AB Acquisition LLC (“AB Acquisition”) will acquire all outstanding shares of Safeway (the “Merger”). The merger agreement was unanimously approved by the Board of Directors of Safeway.
AB Acquisition is the owner of Albertson’s LLC and New Albertson’s, Inc. (collectively “Albertsons”) and is controlled by a Cerberus Capital Management, L.P. (“Cerberus”)-led investor group, which also includes Kimco Realty Corporation (NYSE:KIM), Klaff Realty LP, Lubert-Adler Partners LP, and Schottenstein Stores Corporation.
As a result of the Merger, plus other actions to be taken by the Safeway Board of Directors as described below, including the separate sales of certain other primarily non-core assets, and the distribution of Blackhawk shares, Safeway shareholders are expected to receive total value estimated at $40 per share.
(Excerpt) Read more at albertsons.com ...
Both, IMHO, have becaome way too metrosexual lately - jumping on the latest fads, the extravagance of the displays, I don't need an upscale supermarket, just one that gives me a good selection and an honest price.
albertsons and safeway to me are no go zones.
safeway VERY VERY rarely, and albertsons never.
last time i went to safeway was to get a script filled, and they told me it would be 4 hours. nope not gonna do it.
Interesting that Safeway has been in talks with the Kroger/King Soopers/City Markets folks about selling them some stores.
I guess that could still happen.
The force behind this is the ominously sounding Cerberus Capital Management, which just last year purchased Albertson’s and other chains from SuperValu.
It is a real “Umbrella Corporation”.
http://en.wikipedia.org/wiki/Cerberus_Capital_Management
N.B.: Dan Quayle joined Cerberus in 1999 and is chairman of the company’s Global Investments Division.
I was in a Safeway about 4 weeks ago.
It was like stepping onto the Enterprise Holodeck!
Signs and notices and monitors running commercials everywhere.
I don’t need an other-worldly experience when I go out to buy some eggs...
***
4 hours would be wonderful at my local supermarket pharmacy. Most of the time the pharmacy would tell me to come back the next day. Much of the time the pharmacy runs out of common medications and the customer has to wait till the medication is ordered, then delivered. Could be up to a week.
For the meds I have to take daily, I've switched to the “mail order” pharmacy service from my insurance carrier. Saves time and aggravation.
It usually takes a half hour to fill my prescriptions at Costco and about the same or less at Rite Aid.
This is sad for me. My grandmother shopped at Safeway, my mother too, and me. I feel comfortable in their stores. For me, it’s “the way of safety” when I buy their labeled products. Safeway is the only brand I have any loyalty to. I understand it’s irrational, but that’s life. This is sad for me.
Two of the Albertson’s stores in my area closed recently. I prefer Stater Brothers because they don’t use club cards, which I hate. But these days, I do most of my grocery shopping at Trader Joe’s. These stores are always packed with customers.
Albertsons here have recently dropped the whole Club Card bs.
Guess it was just too costly to administer compared to the benefits/increased sales they expected.
The Dude will not be pleased.
I guess that being metrosexual and growing through acquisitions is the only way to compete with Walmart.
bttt
Strange, our local Safeway is pretty good. I don’t get scripts filled there. Over the past year and a half or so they’ve put a ton of money into remodeling and upgrading. Doesn’t seem “upscale” to me though. I still see people open carrying, and occasionally ranchers/ranch-hands in there wearing spurs and chaps. (real spurs and chaps, not pervs going to a Village People reunion)
Don’t think we have any Albertsons anywhere in our area. Safeway bought out our Randall’s stores some years ago and have gradually gotten rid of the special things we used to be able to buy at Randalls. My family likes Grape Nuts - Safeway/Randall’s doesn’t carry. Safeway staff are rude and there is absolutely no service. Way too much on the shelves is either sodium free, fat free or gluten free. Only benefit of shopping there is that we get huge discounts on gas.
I had missed the news about the purchase of Randalls, and am saddened ... that was a small chain I really looked up to. (Lifetime interest in grocery retail because I started teen life as a stocker/bagger for the old A&P.)
I don’t really care about using club cards as such, but I bet Bill Gates would be surprised by just how much beer he has purchased in Utah.
Randall’s was a ‘sister’ store to Safeway. In the Austin area where I lived (some years ago now) and I could use my Safeway card there. I always shopped Safeway when I lived in CA. In Austin all the Albertsons closed. When we relocated to Utah they were closed also or called “Fresh Market”. I figured they were on their way out. This news surprises me.
Albertson’s is ALWAYS the most expensive. The Albertson’s around here (So Cal) are usually empty and they were thinking of closing some stores,
I remember the old A&P from when my younger days in Kansas City. Had a huge crush on a really cute carry out guy when I was about 14, but my mom said he was “too old” for me, although I suspect he was only 16 or 17 - maybe it was you??? LOL.
I really loved the old Randalls and their entire family was so involved in everything. Great store and great choices.
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