Safeway on Wednesday announced that it was in discussions concerning a possible transaction involving the sale of the company.
“Although the discussions are ongoing, the company has not reached an agreement on a transaction, and there can be no assurance that these discussions will lead to an agreement or a completed transaction,” the company said in a statement.
“The company will not comment further on these discussions at this time.” The announcement confirmed widespread industry speculation and follows the company’s moves a year ago to shed its Canada and Dominick’s divisions.
The Pleasanton, Calif.-based retailer also said it would distribute the stock it owns in gift-card subsidiary Blackhawk Holdings to its stockholders and would seek a transaction to monetize its Casa Ley division operating stores in Mexico.
Read more: Safeway pursues initiatives during sales talks
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