Local

Potential Vons-Albertsons Merger Gets Safeway Shareholder OK

View Comments
(credit: Ethan Miller/Getty Images)

(credit: Ethan Miller/Getty Images)

Top Features
textalerts180 Potential Vons Albertsons Merger Gets Safeway Shareholder OK

LOS ANGELES (CBSLA.com) — A proposed supermarket takeover involving Vons’ parent company took a step toward approval after Safeway shareholders voted Friday to accept a $9.2 billion purchase offer from Albertsons.

During a meeting near San Francisco, 96 percent of Safeway shareholders voted to accept the proposal, which would create the nation’s second-largest supermarket chain, according to the San Jose Mercury News, sending it on to federal regulators. Kroger, which owns and operates Ralphs stores in California, would still be larger than the combined chains.

Albertsons has 181 stores in Southern California while Safeway operates 279 Vons locations. Albertsons has not indicated what it plans to do regarding store locations or names if the purchase is approved, but the Federal Trade Commission could order the retailer to sell some of its stores to other competitors, the Mercury News reported.

Traditional supermarkets continue to  face pressure from both big-box stores and specialty grocers, according to analysts who follow the sector.

(©2014 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services contributed to this report.)

 

 

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 2,678 other followers