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Albertson’s LLC Announces Definitive Agreement

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Jan 10th, 2013

Albertson’s LLC Announces Definitive Agreement for Purchase of 877 Stores from SUPERVALU

BOISE, ID– January 10, 2013 – Albertson’s LLC announced today that its parent company, AB Acquisition LLC, (“Albertson’s”) has signed a definitive agreement under which it will acquire Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores and related Osco and Sav-on in-store pharmacies (collectively, the “Stores”) currently owned by Minneapolis-based SUPERVALU Inc. The transaction will consist of Albertson’s acquisition of the stock of New Albertsons, Inc. (“NAI”), a wholly-owned subsidiary of SUPERVALU Inc., for $100 million in cash plus the assumption of approximately $3.2 billion in debt. Upon closing, Albertson’s will own both NAI and Albertson’s LLC.

Bob Miller, CEO of Albertson’s LLC, said of the acquisition, “We are very excited about the opportunity to acquire Acme, Albertsons, Jewel-Osco, and Shaw’s and Star Market. We see great potential to improve operations, drive new energy and create a ‘winning attitude’ with our store-level associates, and earn back our customers’ trust and business.” Miller continued, “In 2006, we acquired a set of stores that lacked investment and were in tough shape, but with our great associates taking care of our customers every day we have grown into a solid regional supermarket chain with growing sales. I believe we can be successful again.”

Following the acquisition, Albertson’s and its subsidiaries will consist of 1,069 stores and 12 distribution centers, and employ approximately 110,000 associates.

The transaction is subject to customary closing conditions and the completion of the fully underwritten debt financing at Albertson’s LLC and NAI, which has been provided by a consortium of banks including Bank of America, Merrill Lynch, Citigroup, Credit Suisse, Morgan Stanley and Barclays.

Albertson’s LLC retained Lazard as lead M&A advisor. Barclays also served as an M&A advisor to Albertson’s LLC.

About Albertson’s LLC

Established in 2006, Albertson’s LLC is working to become the favorite food and drug retailer in every market it serves. The company is privately owned by Cerberus Capital Management, Kimco Realty Corporation, Klaff Realty, Lubert-Adler Partners, and Schottenstein Stores Corporation. The company operates 190 Albertson’s Market-branded stores and two Super Saver Foods stores in eight states and employs approximately 20,000 associates. For more information, please visit www.AlbertsonsMarket.com.

Media contact:

Christine Wilcox, 208.409.9876

christine.wilcox@albertsonsllc.com

6 Responses to Albertson’s LLC Announces Definitive Agreement

  1. rick weyant 19/07/2013 at 11:12 pm

    glad to see you guys are back on the right track,don’t stop now ! maybe some day you will come back to northern california in my neck of the woods.Good Luck!!!

  2. James Machan Knights of Columbus 31/07/2013 at 1:57 am

    I would like permission to accept donations in front of two of your stores on the weekend of September 20-22, 2013 to beneft individuals with intellectual disabilities in our community.The two stores are the Jewel- Osco in North Riverside and the Roosevelt Road store in Oak Park.
    We have done this for many years and we are greatly apprecative the kindness given to us to conduct our fund raising drive.
    I would be glad to answer any questions.
    Thank- You.
    ( 708) 863- 5117

  3. Charletta Mosley 13/10/2013 at 2:09 pm

    I am in the Minneapolis, MN area and would like to know if Cub Foods is a part of Albertson’s. In addition, please advise where I may be able to find information on other grocery chains within your umbrella.

    Thank you.

    • Customer Care Customer Care 20/10/2013 at 12:00 pm

      Cub Foods is no longer affiliated with Albertsons, Charletta. Cub Foods is owned by Supervalu still, so please visit their website http://www.supervalu.com. You will also be able to find information about which banners Albertson’s LLC and New Albertsons, Inc. bought from Supervalu. Thank you! ~Marie

  4. G.A.P 06/11/2013 at 2:49 pm

    Albertsons will be as it use to. What a Great Company and Great leadership. It is great to see the return of a caring company.
    Take Care
    DA

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