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BOISE, Idaho - Albertsons, Inc. said today that it has completed the acquisition of JS USA Holdings, Inc., which runs 204 Shaw's and Star Markets stores in New England. As a result of the acquisition, Albertsons now has more than 2,500 stores in 37 states, and 230,000 associates.
"Shaw's excellent reputation with New England consumers and its position of No. 1 or No. 2 in each of its major markets will complement and enhance the Albertsons family of world-class grocery banners," said Larry Johnston, Albertsons' chairman, c.e.o., and president.
Albertsons has identified estimated cost synergies from the Shaw's acquisition to be between $100 million and $125 million in fiscal year 2006. Paul Gannon will continue as c.e.o. and president of Shaw's, reporting directly to Johnston. Shaw's and Star Market stores will keep operating under their familiar banners, and their headquarters will stay in New Bridgewater, Mass.
Albertsons, one of the world's biggest food and drug retailers, has annual revenues of more than $35 billion. The company's banners include Albertsons, Jewel-Osco, Acme, Albertsons-Osco, Albertsons-Sav-on, Sav-on Drugs, Osco Drug, Super Saver, Shaw's, and Star Markets.