In 2015, Safeway was bought out by Albertsons. Albertsons is an American grocery company that owns stores like Jewel-Osco, Vons, Pavilions, and Randalls.
Safeway was founded in 1915 and was headquartered in Pleasanton, California. At the time of the acquisition, Safeway had 1,600 stores across the United States. The company employed approximately 140,000 people.
Safeway was acquired by Albertsons for $9 billion. The acquisition created a grocery giant with over 2,200 stores and 250,000 employees.
The combined company had sales of $60 billion. The deal was financed with a mix of debt and equity. Albertsons shareholders own 72% of the combined company, while Safeway shareholders own the remaining 28%.
The acquisition of Safeway by Albertsons was completed on January 30, 2015.
