M&A Deal Summary

Albertsons, Kimco Realty and Schottenstein Stores Acquire Safeway

On March 6, 2014, Albertsons, Kimco Realty and Schottenstein Stores acquired retailer Safeway for 9.2B USD

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

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

Target

Safeway

Pleasanton, California, United States
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

Boise, Idaho, United States
Category Company
Founded 1939
Sector Retail
Employees300,000
Revenue 71.9B USD (2022)
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 The United Family

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

Jericho, New York, United States
Category Company
Sector Real Estate
Employees660
Revenue 1.8B USD (2023)
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. Kimco Realty is based in Jericho, New York.

DEAL STATS #
Overall 36 of 38
Sector (Retail) 1 of 1
Type (Merger) 1 of 1
State (California) 6 of 6
Country (United States) 26 of 28
Year (2014) 1 of 2
Size (of disclosed) 1 of 23
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

Columbus, Ohio, United States
Category Company
Sector Retail
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

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 -
Mergr

Product

Company

Legal