Home / AMERICAN NEWS / Safeway Sells To Cerberus For Over $9 Billion

Safeway Sells To Cerberus For Over $9 Billion

Safeway has announced that it sold its grocery store chains to Cerberus for a deal that’s around $9 Billion. Cerberus Capital Management continues to expand its investment profile as it adds another grocery chain to it’s roster. The New York based company looks to secure large corporations that have a stable history, as well as an optimistic financial future. It is hard to argue with the public’s need for a groceries, which makes the outlook of these businesses seem stable for long-term investments.

Safeway Sells To Cerberus For Over $9 Billion

Safeway Sells Stores To Albertsons In MergerAlbertson’s corporate body known as AB Acquisitions LLC will be making a purchase of all of the outstanding Safeway shares as part of its agreement to take over the Safeway business. This will mean good news for current Safeway shareholders, as payout are expected to be substantial for each share held. There will be a cash payout made to every shareholder of Safeway stock, to the tune of about $40 per share as a result of this merger. Additionally, this merger will not be effecting the previous agreement Safeway had to distribute the shares of Blackhawk to its current shareholders.

This agreement to merge will make the Albertson’s brand a very powerful player in the grocery retail business, as the combined market ownership of all of the stores will continue to grow to rival the Kroger brand of grocery stores. All of these traditional grocery chains, however, will continue to fight a growing battle against other big-box stores who wish to compete in the grocery business. Traditional big-box retail stores have changed their game plan over the past decade or so by offering a grocery component to their shopping experience.

As stores like WalMart, Target, and some drug stores continue to add full-service grocery stores to their already impressive list of offerings the traditional grocery stores and super markets continue to lose their grip on our wallets. Shoppers are increasingly opting to do their shopping at stores that offer more options down their aisles, where they can pack up the family and check off diverse needs from their family’s shopping lists. We continue to see our grocery stores offering more than groceries, and our retail stores offering fresh produce and groceries as that fine line between segmentation and one-stop shopping begin to blur.

Featured image from Safeway website.

Safeway Sells To Cerberus For Over $9 Billion.

About Steven Kenniff

Lives in Phoenix, AZ. Graduated from Arizona State University in 2005. Writes for American Live Wire, GM Roadster and Northstar Media

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