Tuesday, March 10, 2020

Grocery giant Albertsons files for IPO as sales continue to grow

Supermarket News
Boise, Idaho-based Albertsons, the nation’s second-largest supermarket chain with more than 2,200 stores, filed for an initial public offering late on Friday. The company has been owned for the past 14 years by private equity firm Cerberus Capital Management.

After Albertsons’ 2015 merger with Safeway, investors tried to take the company public, looking to raise as much as $1.6 billion in an IPO, but then pulled the offering amid lackluster market conditions for retail stocks in late 2015. In 2018, the company attempted to go public with a $24 billion merger deal with Rite Aid Corp., which fell apart due to investor pushback in August 2018.. . . more