By George Anderson
The Federal Trade Commission (FTC) has approved the $9.7 billion sale of Albertsons to a group of investors including Supervalu without requiring any assets be sold off.
Supervalu's end of deal (it will purchase 1,124 stores under the Acme Markets, Albertsons, Bristol Farms, Jewel-Osco, and Shaw's Supermarkets banners) will be completed once it is approved by shareholders of the two companies.
"I am excited and look forward to detailing the strong benefits from this proposed combination for the investment community," said Jeffrey Noddle, chairman and chief executive officer of Supervalu in a released statement. "We believe that this merger creates tremendous value for both Supervalu and Albertsons shareholders, as the combination results in a retail powerhouse with strong market positions, tremendous brand equities, significant size and scale, and a solid financial platform."
With the addition of the Albertsons' banners, Supervalu will have 2,656 stores putting it second in size only to Kroger in the supermarket channel.
Moderator's Comment: What will Supervalu need to do once it takes possession of Albertsons' stores? Are there specific challenges or opportunities you see for individual banners (Albertsons, Acme Markets, Bristol Farms, Jewel-Osco, and Shaw's Supermarkets) that Supervalu is acquiring? - George Anderson - Moderator