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MINNEAPOLIS -- It's official: Supervalu here has completed the $12 billion acquisition of the premier retail properties of Albertsons, which includes Acme Markets, Bristol Farms, Jewel, Shaw's Supermarkets, Star Markets, and Albertsons banner stores in the Intermountain West, Northwest and Southern California regions. The deal also includes related in-store pharmacies operating under the Osco Drug and Sav-on banners.
The deal gained overwhelming approval last week, from 98 percent of voting Albertsons shareholders and 92.6 percent of Supervalu shareholders.
With the purchase of 1,100 Albertsons stores complete, Supervalu is now the third-largest supermarket operator in the nation, with projected combined annual sales of $38 billion dollars.
Jeff Noddle, Supervalu's chairman and c.e.o., told Progressive Grocer: "The new Supervalu is a combination of great brands, great locations and great people working together to forge a fresh future. As we build our new enterprise, we are continuing to bring forward the best including people, systems and processes from throughout our new organization, and we remain committed to maintaining the positive relationships we've built with independent grocers, vendors and suppliers."