Albertsons is an American grocery company with 2,200 stores across the United States. It is the second-largest grocery store chain in the country behind Kroger. The company is headquartered in Boise, Idaho, and was founded in 1939 by Joe Albertson.
Albertsons is a private company owned by a consortium of investors led by Cerberus Capital Management. The company has been through a number of ownership changes in its history. In 2015, it was acquired by AB Acquisition LLC, a holding company jointly owned by Cerberus Capital Management and Kimco Realty Corporation.
The company has a long history of being involved with the Mormon Church. Joe Albertson, the founder, was a Mormon.
The current CEO, Bob Miller, is also a Mormon. In fact, all of the CEOs of the company since its inception have been Mormon.
Albertsons is not an entirely Mormon-owned company, but the Church does have a significant stake in it. The Church of Jesus Christ of Latter-day Saints owns shares in the company through its investment arm, Deseret Management Corporation. As of 2012, the Church’s stake was worth approximately $1 billion.
Despite its close association with the Mormon Church, Albertsons is not a religious organization. It does not proselytize or require its employees to be Mormon. However, it does promote Mormon values such as honesty, hard work, and thriftiness.
So Is Albertsons a Mormon Company? While the Church does have a significant stake in Albertsons, it is not an entirely Mormon-owned company. However, the close association between the two organizations means that Albertsons does promote Mormon values such as honesty, hard work, and thriftiness.
