Albertsons Companies Announces Review of Strategic Alternatives
28 Februar 2022 - 10:01PM
Business Wire
The Board of Directors of Albertsons Companies, Inc. (NYSE: ACI)
announced today 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 $260 million in food and
financial support, including approximately $95 million through our
Nourishing Neighbors Program to ensure those living in our
communities have enough to eat.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the federal securities laws. The "forward-looking
statements" include our current expectations, assumptions,
estimates and projections about our Company. They include
statements relating to our future actions or potential outcomes
which the Company believes to be reasonable at this time. You can
identify forward-looking statements by the use of words such as
"outlook," "may," "should," "could," "estimates," "predicts,"
"potential," "continue," "anticipates," "believes," "plans,"
"expects," "future" and "intends" and similar expressions which are
intended to identify forward-looking statements.
These statements are not guarantees of future performance and
are subject to risks, uncertainties, and other factors, some of
which are beyond our control and difficult to predict, including,
among others:
- the timing of our review of any strategic alternatives;
- whether we will be able to identify or develop any strategic
alternatives;
- our ability to execute on material aspects of any strategic
alternatives;
- whether we can achieve the potential benefits of any strategic
alternatives;
- changes in macroeconomic conditions;
- retail consumer behavior and environment and the Company's
industry;
- ability to attract and retain qualified associates;
- failure to achieve productivity initiatives;
- increased rates of food price inflation or future deflation;
and
- factors related to the continued impact of the COVID-19
pandemic, about which there are still many unknowns, including its
duration, recurrence, new variants, status and effectiveness of
vaccinations, duration and scope of related government orders,
financial assistance programs, mandates and regulations and the
extent of the overall impact to our business and the communities we
serve.
All forward-looking statements attributable to us or persons
acting on our behalf are expressly qualified in their entirety by
these cautionary statements and risk factors. Forward-looking
statements contained in this press release reflect our view only as
of the date of this press release. We undertake no obligation,
other than as required by law, to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Such risks and uncertainties could cause actual results to
differ materially from those expressed or forecasted by us. In
evaluating our financial results and forward-looking statements,
you should carefully consider the risks and uncertainties more
fully described in the "Risk Factors" section or other sections in
our reports filed with the SEC including the most recent annual
report on Form 10-K and any subsequent periodic reports on Form
10-Q and current reports on Form 8-K.
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version on businesswire.com: https://www.businesswire.com/news/home/20220228006022/en/
Media Contact: Debra Ceffalio
Debra.Ceffalio@albertsons.com
Investor Contact: Melissa Plaisance
Melissa.Plaisance@albertsons.com
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