Albertsons Companies Announces Review of Strategic Alternatives

Boise / ID. (abc) The Board of Albertsons Companies announced that it has commenced a Board-led review of potential strategic alternatives aimed at enhancing Albertsons’ growth and maximizing shareholder value. The review will include an assessment of various balance sheet optimization and capital return strategies, potential strategic or financial transactions and development of other strategic initiatives to complement Albertsons’ existing businesses, as well as responding to inquiries. The Company has retained Goldman Sachs and Credit Suisse to serve as financial advisors to assist in this review.

«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 Chan Galbato, Co-Chair of the Board of Directors. «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 has not set a timetable for the conclusion of this review, nor has it made any decisions related to any further actions or potential strategic alternatives at this time. There can be no assurance that the review will result in any transaction or other strategic change or outcome. The Company does not intend to comment further until it determines that further disclosure is appropriate or necessary.

About Albertsons Companies

Albertsons Companies is a leading food and drug retailer in the United States. As of December 4, 2021, the Company operated 2,278 retail food and drug stores with 1,722 pharmacies, 399 associated fuel centers, 22 dedicated distribution centers and 20 manufacturing facilities. The Company operates stores across 34 states and the District of Columbia under more than 20 well-known banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen, Carrs, Kings Food Markets and Balducci’s Food Lovers Market. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood. In 2020, along with the Albertsons Companies Foundation, the Company gave USD 260 million in food and financial support, including approximately USD 95 million through our Nourishing Neighbors Program to ensure those living in our communities have enough to eat.

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