SAFEWAY COMPLETES 50% STAKE IN GROCERYWORKS

DALLAS -- GroceryWorks here said a subsidiary of Safeway, Pleasanton, Calif., this month contributed $20 million to complete Safeway's 50% investment in the fledgling on-line grocery company.Safeway also recruited longtime financial partner Kohlberg Kravis Roberts to contribute an additional $20 million. The investment of $40 million between Safeway and KKR's Accel-KKR Internet fund will help finance

DALLAS -- GroceryWorks here said a subsidiary of Safeway, Pleasanton, Calif., this month contributed $20 million to complete Safeway's 50% investment in the fledgling on-line grocery company.

Safeway also recruited longtime financial partner Kohlberg Kravis Roberts to contribute an additional $20 million. The investment of $40 million between Safeway and KKR's Accel-KKR Internet fund will help finance GroceryWorks' expansion through the end of the year, Kelby Hagar, GroceryWorks' pres

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