The Boise, Idaho-based board of directors of Albertsons Companies Inc. has commenced a board-led review of potential strategic alternatives aimed at enhancing Albertsons’ growth and maximizing shareholder value.
The review will include an assessment of various balance sheet optimizations and capital return strategies, potential strategic or financial transactions and development of other strategic initiatives to complement Albertsons’ businesses, as well as responding to inquiries. The company has retained Goldman Sachs and Credit Suisse to serve as financial advisors to assist in this review.
“The board believes the continuing strength of our business and the scale of our portfolio of assets warrants a deep and considered review of all possible paths towards maximizing value creation,” said Chan Galbato, co-chair of the board of directors.
“Albertsons operates more than 2,270 stores across 34 states with growing digital and omni-channel capabilities, along with a vast dedicated manufacturing and distribution infrastructure, which have become integral to the fabric of communities across the U.S. The board believes that this review, coupled with an ongoing focus on accelerating our transformation strategy, will create enhanced value for all our stakeholders including our customers, associates and investors.”
The board has not set a timetable for the conclusion of this review, nor has it made any decisions related to any further actions or potential strategic alternatives at this time. There can be no assurance that the review will result in any transaction or other strategic change or outcome.
The company does not intend to comment further until it determines that further disclosure is appropriate or necessary.
Albertsons Companies operates stores across 34 states and the District of Columbia under 20 banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen, Carrs, Kings Food Markets and Balducci’s Food Lovers Market.
The company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. In 2020, along with the Albertsons Companies Foundation, the company gave $260 million in food and financial support, including approximately $95 million through our Nourishing Neighbors Program to ensure those living in our communities have enough to eat.
For more information, visit albertsons.com.
