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Safeway Confirms Sale to Cerberus
Updated On: Mar 10, 2014

On Thursday March 6, Safeway confirmed it had signed an agreement to sell the chain to AB Acquisition, parent of Albertson’s LLC and New Albertson’s, Inc.  AB Acquisitions is owned by the investor group, Cerberus Capital Management, which operates under several retail banners across the United States.

The sale announced yesterday has not been completed. The agreement faces many challenges, not the least of which are anti-trust issues, in markets like Eastern Washington where Safeway has a significant number of locations and Cerberus owns many Albertsons stores. If the agreement satisfies the government requirements it is expected to be wrapped up near the end of 2014.

During this interim period your contract remains in place along with your wages, benefits and working conditions. The new owner is obligated to bargain with the union to work through the affects of the sale on our members. We dealt with a similiar issue last year when Cerberus purchased Albertsons.

According to a company press release, no stores are anticipated to close as a result of this merger. If they live up to that commitment, the transition will be smooth and the new company will thrive. Local 1439 will work hard to assure such an outcome.

If you have any further questions, please contact your union representative. 
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