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Albertsons parent Cerberus to buy Safeway

Red Bull and other drinks are on display at a Safeway in San Ramon, Calif. Safeway has agreed to be acquired by an investment group led by Cerberus Capital Management, the owner several supermarket chains. The acquisition of is worth about $7.64 billion in cash, and pending other transactions could top more than $9 billion. The deal, announced late Thursday,March 6, 2014, will bring together Safeway and Albertsons, one of the five chains that Cerberus bought from Supervalu Inc. last year.

AP Photo/Paul Sakuma, File
Red Bull and other drinks are on display at a Safeway in San Ramon, Calif. Safeway has agreed to be acquired by an investment group led by Cerberus Capital Management, the owner several supermarket chains. The acquisition of is worth about $7.64 billion in cash, and pending other transactions could top more than $9 billion. The deal, announced late Thursday,March 6, 2014, will bring together Safeway and Albertsons, one of the five chains that Cerberus bought from Supervalu Inc. last year.



Safeway has agreed to be acquired by an investment group led by Cerberus Capital Management, the owner of several supermarket chains...

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