M&A Deal Summary

Albertsons Companies, Kimco Realty and Schottenstein Stores Acquires Safeway

On March 6, 2014, Albertsons Companies Inc., Kimco Realty Corp. and Schottenstein Stores Corp. acquired retail company Safeway, Inc. for 9.2B USD

Acquisition Highlights
  • This is Albertsons Companies’ 3rd, Kimco Realty’s 1st and Schottenstein Stores’ 1st transaction in the Retail sector.
  • This is Albertsons Companies’ 1st, Kimco Realty’s 1st and Schottenstein Stores’ 1st largest (disclosed) transaction.
  • This is Albertsons Companies’ 3rd, Kimco Realty’s 26th and Schottenstein Stores’ 2nd transaction in the United States.
  • This is Albertsons Companies’ 2nd, Kimco Realty’s 6th and Schottenstein Stores’ 1st transaction in California.

M&A Deal Summary

Date 2014-03-06
Target Safeway, Inc.
Sector Retail
Buyer(s) Albertsons Companies Inc.
Kimco Realty Corp.
Schottenstein Stores Corp.
Deal Type Merger
Deal Value 9.2B USD
Advisor(s) Goldman Sachs Investment Banking Division
Greenhill & Co., Inc. (Financial)
Latham & Watkins (Legal)

Target

Safeway, Inc.

Pleasanton, California, United States
website
Safeway Inc., which operates Safeway, Vons, Pavilion’s, Randall’s, Tom Thumb, and Carrs stores, is a Fortune 100 company and one of the largest food and drug retailers in the United States with sales of $36.1 billion in 2013. The company operates 1,335 stores in 20 states and the District of Columbia, 13 distribution centers and 20 manufacturing plants.

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Buyer(S) 3

Buyer

Albertsons Companies Inc.

Boise, Idaho, United States

website


Category Company
Founded 1860
SectorRetail
Employees300,000
Revenue 69.7B USD (2021)
DESCRIPTION

Albertsons is a food and drug retailer. Albertsons operates under 20 well-known banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen and Carrs, as well as meal kit company Plated. Albertsons was formed in 1939 and is based in Boise, Idaho.


DEAL STATS #
Overall 3 of 5
Sector (Retail) 3 of 3
Type (Merger) 1 of 1
State (California) 2 of 2
Country (United States) 3 of 5
Year (2014) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-09 United Supermarkets LLC

Lubbock, Texas, United States

United Supermarkets, LLC, d/b/a The United Family since its founding in 1916 and based in Lubbock, Texas, United operates 50 grocery stores under its United Supermarkets, Market Street and Amigos banners, as well as seven convenience stores and 26 fuel centers under its United Express banner.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-31 MedCart Specialty Pharmacy

Livonia, Michigan, United States

MedCart Specialty Pharmacy is a provider of specialty prescription services and medications from two facilities in Michigan: one specialty pharmacy operations center and one local pharmacy. MedCart Specialty Pharmacy is based in Livonia, Michigan.

Buy -
Buyer

Kimco Realty Corp.

Jericho, New York, United States

website


Category Company
SectorReal Estate
Employees484
Revenue 1.1B USD (2020)
DESCRIPTION

Kimco Realty is a real estate investment trust (REIT) that owns and operates North America's major publicly traded portfolio of neighborhood and community shopping centers.


DEAL STATS #
Overall 36 of 37
Sector (Retail) 1 of 1
Type (Merger) 1 of 1
State (California) 6 of 6
Country (United States) 26 of 27
Year (2014) 1 of 2
Size (of disclosed) 1 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-05-16 Marketplace at Factoria Portfolio

United States

Marketplace at Factoria is approximately 94.3-percent-occupied and anchored by several large national and regional retailers, including Wal-Mart, Target, Nordstrom Rack, T.J.Maxx, Petco, DSW Shoe Warehouse, Old Navy, Rite Aid and Safeway.

Buy $131M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-30 24-Property Retail Portfolio In New England

United States

The 1.4-million-square-foot, 96-percent-occupied portfolio includes 17 shopping centers in the Boston metropolitan area, marking a significant expansion for the company in this desirable retail market with attractive infill locations and a large consumer base

Buy $270M
Buyer

Schottenstein Stores Corp.

Columbus, Ohio, United States

Category Company
SectorRetail
DESCRIPTION

Schottenstein Stores Corporation (SSC) is a privately held family of businesses affiliated with: American Eagle Outfitters (NYSE); Martin and Osa; aerie; Retail Ventures Inc. (NYSE) which is the parent of DSW, also a NYSE listed company and Filene's Basement; American Signature Inc/Value City Furniture, Adrienne Vittadini, Judith Leiber and Shirò.


DEAL STATS #
Overall 2 of 2
Sector (Retail) 1 of 1
Type (Merger) 1 of 1
State (California) 1 of 1
Country (United States) 2 of 2
Year (2014) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-01 Steuben Glass LLC

New York, New York, United States

Steuben is a manufacturer of handmade art glass and crystal, featuring blown, cut, and etched designs, and animal sculptures.

Sell -