Subscribe to Breaking News emails

You have successfully subscribed to the Breaking News email.

Subscribe today to be the first to to know about breaking news and special reports.

Albertsons Owner to Buy Safeway for More than $9 Billion

 / Updated 
Customers leave a Safeway store on March 5 in San Francisco. Private equity firm Cerberus Capital Management LP, owner of the Albertsons grocery chain, agreed to buy Safeway for more than $9 billion.Justin Sullivan / Getty Images

Breaking News Emails

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.
The owner of Albertsons grocery stores is buying Safeway Inc., the second-largest U.S. mainstream grocery store operator, in a deal valued at about $9.4 billion.

Breaking News Emails

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.
 Customers leave a Safeway store on March 5 in San Francisco. Private equity firm Cerberus Capital Management LP, owner of the Albertsons grocery chain, agreed to buy Safeway for more than $9 billion. Justin Sullivan / Getty Images
In a statement on the Albertsons website, the company said the deal "will create a diversified network that includes over 2,400 stores, 27 distribution facilities and 20 manufacturing plants with over 250,000 dedicated and loyal employees. No store closures are expected as a result of this transaction."
Bob Miller, Albertsons current CEO, will become executive chairman. Robert Edwards, Safeway’s president and CEO, will become president and CEO of the combined company.
The combined company will operate: Safeway, Vons, Pavilions, Randalls, Tom Thumb, Carrs, Albertsons, ACME, Jewel-Osco, Lucky, Shaw’s, Star Market, Super Saver, United Supermarkets, Market Street and Amigos in 34 states and the District of Columbia.
The deal is expected to close in the fourth quarter.

-Reuters and NBC News staff

Breaking News Emails

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.
MORE FROM news

Have feedback?

How likely are you to recommend nbcnews.com to a friend or colleague?

0 = Very unlikely
10 = Very likely
Please select answer

Is your feedback about:

Please select answer

Leave your email if you’d like us to respond. (Optional)

Please enter a valid email address

Thank you!

Your feedback has been sent out. Please enjoy more of our content.

We appreciate your help making nbcnews.com a better place.