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BOISE, Idaho — Albertsons Cos. has filed with the Securities and Exchange Commission for an initial public offering that is valued at up to $1.84 billion.
Albertsons Cos. has filed with the Securities and Exchange Commission for an initial public offering that is valued at up to $1.84 billion.
The company, which plans to trade on the New York Stock Exchange under the symbol ABS, says it will use much of the proceeds of the offering to pay down debt.
Albertsons notes in its filing that it is one of the largest food and drug retailers in the United States. As of June 20, the company operated 2,205 stores across 33 states under 18 banners, including Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market and Carrs. Albertsons operates in 121 metropolitan statistical areas and is ranked No. 1 or No. 2 by market share in 68% of them.
The underwriters for the offering are Goldman Sachs, Merrill Lynch, Citigroup, Morgan Stanley, Lazard, Deutsche Bank, Credit Suisse, Barclays, Guggenheim, Jefferies, RBC Capital Markets, Wells Fargo, BMO Capital Markets, SunTrust Robinson Humphrey, Telsey Advisory Group, Academic Securities, Ramirez and Blaylock Beal Van.
