Albertson’s Out, Publix in
The long break-up of Albertson’s continues. In the most recent deal, Publix bought 50 locations from Albertson’s in Florida.
Grocery chain Albertson’s LLC, which was once one of the top supermarket operators in the United States, agreed to sell 49 of its Florida stores to rival Publix Super Markets.
Food-and-drug retailer Albertson’s, which operates about 300 stores, once boasted a stable of 2,500 stores spread across the United States.
In 2006, facing stiff competition, the company sold itself to a group that included rival Supervalu Inc, drugstore chain CVS Caremark , investment firm Cerberus Capital Management and Kimco Realty for about $9.7 billion. Supervalu and CVS scooped up the company’s best supermarket and drugstore assets.
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