PLEASANTON, CA & BOISE, ID – This morning, Safeway and Albertsons announced the completion of the long-awaited $9.2 billion merger.
As we previously reported, the Federal Trade Commission (FTC) has granted approval to the Safeway/Albertsons merger on the condition that the retailers complete the sales of 168 stores.
Under the agreed upon settlement:
- Haggen Holdings, LLC will acquire 146 Albertsons and Safeway stores in Arizona, California, Nevada, Oregon and Washington
- Supervalu Inc. will acquire two Albertsons stores in Washington
Associated Wholesale Grocers, Inc. will acquire 12 Albertsons and Safeway stores in Texas - Associated Food Stores Inc. will acquire eight Albertsons and Safeway stores in Montana and Wyoming
"We plan to be the favorite local supermarket in every community we serve," said Safeway President and CEO Robert Edwards, who becomes President and CEO of the newly combined company, effective immediately. "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."
Bob Miller, Albertsons current Chief Executive Officer who will become Executive Chairman, also spoke about the completion of the merger in a press release.
"This is a transformative day for both Albertsons and Safeway. This merger creates a unified, strong organization that is dedicated to bringing a better shopping experience to more customers across the country," commented Miller. "Our combined geographic footprint, vast range of brands and products, and service-oriented staff will enable us to meet evolving shopping preferences."
This merger will create a diversified network that includes 2,230 stores, 27 distribution facilities and 19 manufacturing plants with more than 250,000 employees across 34 states and the District of Columbia.
For a look at Safeway and Albertsons new leadership team and division leaders, check out our previous article by clicking here.
With a merger of this size, there are sure to be many more changes to come. Stay tuned to AndNowUKnow for the latest updates.
