Safeway Merging With Albertsons
Grocery supermarket Safeway will be getting a new owner -- Albertsons.
Safeway announced it will sell Cerberus Capital Management, a private firm that currently owns Albertsons, for about $9 billion.
Safeway is currently the second largest grocer in the country with over 1300 stores, just below Kroger.
Once the merger goes through, it will create more than 2400 stores, with over a quarter million employees.
"I'm surprised about it because they've been around for a long time," said Angie Guinn, "I used to work for Safeway, it just seems a bit shocking to hear that they have been bought out."
CEO's from both Safeway and Albertsons say there are no plans to close any stores as part of the merger.