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 ...
I really like Safeway, and really dislike Albertons (their layout stinks). Knowing how things go for me Safeway will become more Albertons like and there will no longer be any standard grocery store I like (Frys is dirty and employs idiots, and Walmart sells crap masquerading as food).
Last two times I have been in Randall’s/Safeway in our neighborhood it was about 8 p.m. and you could have shot a cannon down any aisle and the only one you might hit would be someone stocking shelves. Maybe one checker and one person in line. Shelves are not full from front to back and there are a lot of items that you can’t get any more that they used to handle. Talked to the store manager and he just says they no longer handle the item(s).
The only place that handles the yoghurt we used to get at Randall’s is Target so I have to go there for just this one item. Guess we’d better get used to it.
Like Randalls, Tom Thumb went downhill after Safeway bought them.
You’re right about Randalls going downhill. Don’t know that I’ve ever heard of Tom Thumb, except for maybe in a nursery rhyme. But when I was growing up my mom used to tell me all the time that there were lots of things I’d never heard of! Thanks for the background info. Have a great weekend.
So if Alberson's buys Safeway, they get a lot of tom thumb stores in DFW.
Djf, over here in Richland our Safeway has none of that. Neither does the Albertson’s for that matter. I guess catering to different clientele across the state?
Ours is OK, but overpriced except for the very best specials.
OTOH, I actually got the best price quote from Safeway's pharmacy out of about 10 stores including Costco.
So is Albertson’s an okay store? Seems like what we have in our area are Kroger’s, HEB, Randall’s, Fiesta, Wal-Mart and one new very small Aldi. Saw a gal in the bank last week who happened onto a Randall store closing in West Houston and everything was 75% off. She got to the sale early. Said she and her husband filled up three shopping including some very expensive spices. They spent slightly more than $300 but had $1200 worth of stuff. They also bought some wine but it was only 50% off.
Personally, if we go to Trader Joe's I get the same feeling I'd get if I walked into a DNC get-out-the-vote rally - creepy.
The Alertsons (Acme Markets) here in the Philadelphia are MUCH better since Cerberus took over. We still do the vast majority of our grocery shopping at BJ’s, but in recent months Acme has taken a fair amount of the money we used to spend at Walmart.
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