SAFEWAY'S SMOOTH TRANSITIONS

PLEASANTON, Calif. -- Safeway here has mastered the art of the fast and smooth transition, said industry analysts."Every acquisition they've made, they've done better and faster than the previous one," said Gary Giblen, New York-based managing director of Banc of America Montgomery Securities, San Francisco. "Safeway is the master integrator."Steve Burd, Safeway chairman and chief executive officer,

PLEASANTON, Calif. -- Safeway here has mastered the art of the fast and smooth transition, said industry analysts.

"Every acquisition they've made, they've done better and faster than the previous one," said Gary Giblen, New York-based managing director of Banc of America Montgomery Securities, San Francisco. "Safeway is the master integrator."

Steve Burd, Safeway chairman and chief executive officer, said last year, "We have a religious zeal to make acquisitions work."

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