BOISE, Idaho and PLEASANTON, Calif., Jan. 27, 2015 /PRNewswire/ -- AB Acquisition LLC
(Albertsons) and Safeway Inc. (NYSE: SWY, Safeway) today announced
that they have received clearance from the U.S. Federal Trade
Commission (FTC) for the companies' proposed merger which was
announced on March 6, 2014.
The FTC's clearance follows Albertsons' and Safeway's agreement
to a proposed consent order, which includes a commitment to divest
168 stores. As previously announced, Albertsons and Safeway entered
into agreements to sell such stores to four FTC-approved buyers.
Albertsons and Safeway also agreed to settlements with the
attorneys general of California,
Nevada and Washington.
Albertsons and Safeway expect to complete the merger within the
next five business days.
About Safeway Inc.
Safeway Inc., which operates Safeway, Vons, Pavilions, Randalls,
Tom Thumb and Carrs stores, is a Fortune 100 company and one of the
largest food and drug retailers in the
United States with sales of $35.1
billion in 2013. The company's common stock is currently
traded on the New York Stock Exchange (NYSE) under the symbol SWY.
The company's securities will be delisted from the NYSE upon
closing of the merger. For more information, please visit
www.Safeway.com.
About Albertsons
Established in 2006, AB Acquisition LLC (Albertsons), which
operates ACME, Albertsons, Jewel-Osco, Lucky, Shaws, Star Market and Super Saver, and stores under
the United Family of stores, Amigos, Market Street and United
Supermarkets, is working to become the favorite food and drug
retailer in every area it serves. The company is privately owned by
Cerberus Capital Management, Kimco Realty Corporation, Klaff
Realty, Lubert-Adler Partners and Schottenstein Stores Corporation.
For more information, please visit www.Albertsons.com.
Forward-Looking Statements
This press release contains certain "forward-looking" statements as
that term is defined by Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. These statements are indicated by words such as
"expects," "will," "plans," "intends," "committed to," "estimates"
and "is." No assurance can be given that any of the events
anticipated by the forward-looking statements will transpire or
occur. Accordingly, actual results may differ materially and
adversely from those expressed in any forward-looking statements.
Neither Safeway nor any other person can assume responsibility for
the accuracy and completeness of forward-looking statements. There
are various important factors that could cause actual results to
differ materially from those in any such forward-looking
statements, many of which are beyond Safeway's control. These
factors include: failure to consummate or delay in consummating the
transactions described herein for any reasons; changes in laws or
regulations; and changes in general economic conditions. Safeway
undertakes no obligation (and expressly disclaims any such
obligation) to publicly update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise. For additional information please refer to Safeway's
most recent Form 10-K, 10-Q and 8-K reports filed with the
Securities and Exchange Commission.
Media Contacts:
Christine Wilcox,
christine.wilcox@albertsons.com | 208-395-4163
Brian Dowling,
brian.dowling@safeway.com | 925-467-3787
Investor Contacts:
Christiane Pelz, 925-467-3832
Melissa Plaisance, 925-467-3136
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SOURCE Safeway Inc.
