Albertsons and Safeway Confirm Agreements to Sell 168 Stores

AB Acquisition (Albertsons) and Safeway announced that they have entered into agreements, subject to approval by the Federal Trade Commission (FTC), to sell 168 stores across eight states to four buyers:

Divestiture of these stores is being undertaken in order to secure FTC clearance of the companies' proposed merger, which was announced in March and is expected to close in January 2015. The purchase agreements with the four buyers are all subject to approval by the FTC. Under the terms of the purchase agreements, the buyers will acquire the stores, equipment and inventory, and they intend to hire most, if not all, of the store employees upon the closing of the purchase of the stores. For a complete list of stores to be divested, please visit: http://www.albertsons.com/tellmemore. "We're pleased to have found strong buyers for these stores and to have completed this important step toward combining Albertsons and Safeway," said Safeway President and Chief Executive Officer Robert Edwards, who will serve as the combined company's President and CEO. "We look forward now to the transaction's close, so we can begin working together to enhance the loyalty of grocery shoppers by delivering high quality products, great service and lower prices to become the favorite local supermarket in every neighborhood we serve."