As we sit down to dinner tonight, my husband says, “Did you hear Albertsons bought Safeway?” Um. No. I didn’t. I hadn’t been online all afternoon and totally missed this big news!
Technically Albertsons didn’t buy Safeway – their parent company, an investment company, Cerberus Capital Management offered to buy Safeway today – for a mere $9 billion. This means Safeway will likely merge with Albertsons if the deal closes – which is expected by the end of the year (likely the fourth quarter).
Although I don’t know what this means for Safeway shoppers – I’m guessing this is big news for Safeway shoppers. Cerberus Capital Management did say that “No store closures are expected as a result of this transaction.” (source: NBC News article)
The NBC article also says the “The combined company will operate: Safeway, Vons, Pavilions, Randalls, Tom Thumb, Carrs, Albertsons, ACME, Jewel-Osco, Lucky, Shaw’s, Star Market, Super Saver, United Supermarkets, Market Street and Amigos in 34 states and the District of Columbia.”
I love, love, love my Safeway store, so I’m definitely interested to see what this means for us and my favorite Safeway cashiers! I hope they don’t get rid of the Just for U program – I so love that. And the idea of these grocery stores merging makes me nervous – if they are all owned by the same company – what sort of competitive pricing are we going to get? That’s all we care about – right? Affordable groceries, reasonable promotions, friendly customer service and clean stores. Let’s hope they take the best things from both companies and merge them to create something really stellar.
To learn more about this deal you can check out these sources:
- Cerberus Capital Management press release - Safeway and Albertsons Announce Definitive Merger Agreement
- NBC news - Albertsons Owner to Buy Safeway for More than $9 Billion
- Forbes news – Cerberus Buys Safeway, Merges It With Albertsons For Over $9 Billion
- USA Today - Investment firm Cerberus to buy Safeway for $9 billion
What do you think about this whole thing?