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BOISE, Idaho — Albertsons Cos.’ board of directors said Monday that it is leading a review of “potential strategic alternatives aimed at enhancing Albertsons’ growth and maximizing shareholder value.”
The review will include the consideration of possible financial transactions, potential deals, and strategic initiatives that could complement the grocery retailer’s existing businesses.
Albertsons, which went public in a 2020 initial public offering, has retained Goldman Sachs and Credit Suisse to serve as financial advisors during the review process.
“The board believes the continuing strength of our business and the scale of our portfolio of assets warrants a deep and considered review of all possible paths towards maximizing value creation,” said board co-chair Chan Galbato. “Albertsons operates more than 2,270 stores across 34 states with growing digital and omnichannel capabilities, along with a vast dedicated manufacturing and distribution infrastructure, which have become integral to the fabric of communities across the U.S. The board believes that this review, coupled with an ongoing focus on accelerating our transformation strategy, will create enhanced value for all our stakeholders including our customers, associates, and investors.”
The board emphasized that it has not set a timetable for the conclusion of this review, and said it has not yet made any decisions about further steps or potential strategic alternatives. Indeed, it is possible that no action will be taken as a result of the review, according to the board.
