Albertsons Companies, Inc. (ACI) Stock Forecast

About the Company

Albertsons Companies, Inc. is an American grocery company founded and headquartered in Boise, Idaho. With 2,253 stores as of the third quarter of fiscal year 2020 and 270,000 employees as of fiscal year 2019, the company is the second-largest supermarket chain in North America after Kroger. Albertsons ranked 53rd in the 2018 Fortune 500 list of the largest United States corporations by total revenue. Prior to its January 2015 merger with Safeway Inc. for $9.2 billion, it had 1,075 supermarkets located in 29 U.S. states under 12 different regional banners. Its predecessor company, Albertsons, Inc., was reorganized as Albertsons LLC and sold to AB Acquisition LLC, a Cerberus Capital Management–led consortium. After buying back the majority of its former stores it sold to SuperValu in 2006, AB Acquisition announced it would change its name to Albertsons Companies Inc. in 2015. The company's corporate name was Albertson's Inc. until 2002, when the apostrophe was removed. On October 14, 2022, Albertsons announced it would be acquired by rival Kroger for $25 billion. On November 30, 2023, Kroger CEO Rodney McMullen announced that the companies had satisfied the informational requirements of the Federal Trade Commission, and the deal was expected to close in early 2024. However, in January 2024, Washington state sued to block the proposed $25 billion merger between Kroger and Albertsons, warning that if approved it could raise prices and harm consumers. In February 2024, Colorado Attorney General Phil Weiser also filed a lawsuit, saying consumers told him they feared it "would lead to stores closing, higher prices, fewer jobs, worse customer service, and less resilient supply chains." Kroger and Albertsons terminated their merger attempt on December 11, 2024, following it being blocked by a federal and a state judge.

Sector

Trade & Services

Industry

Retail-Grocery Stores

Employees

19662

Exchange

NYSE