Wednesday, October 7, 2015

Albertsons set to raise $1.8 billion from IPO

It was reported last week that Albertsons, which operates 2,200 stores in 33 states, including Acme Supermarkets in the Greater Philadelphia Region, expects to raise up to $1.84 billion in its initial public offering. The company has not yet said when the IPO will take place.

Executives plan to change the organizational structure of AB Acquisition LLC and its subsidiaries from an LLC into a corporation known as Albertsons Companies. Once the offering closes, each entity within AB Acquisition will become a wholly-owned subsidiary of the new entity.

The company's January acquisition of Safeway made Albertsons the second largest supermarket chain in America, behind Kroger.

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