News
National Retail

Albertsons Expects to Raise $1.84B in IPO

Photo credit: Flickr/Anthony Albright

Grocery chain Albertsons is going public and expects to raise up to $1.84B in an IPO, the chain said Friday. Set to trade on the NYSE as "ABS," Albertsons set the proposed maximum offering size in a regulatory filing back in July.

The announcement comes just months after Cerberus Capital Management merged Albertsons with fellow supermarket giant Safeway. Cerberus started its acquisition of Albertsons in 2006, and bought Safeway last March for $9.4B.

The decision to go public was made in part to stand up to the growing force of retailers, including Walmart, Amazon and Whole Foods, which contributed to a $1.2B loss last year. [WSJ]

Continue reading this story with a free account

Log in or register
Related Topics: Albertsons, Cerberus, IPO, Kroger, Retail, Safeway
Sign up for more articles like this
Subscribe to Bisnow's National Newsletters
Related Stories

Wall Street Impatient For Big Tech Returns On Data Center Spending

As AI Adoption Ramps Up, Half A Million Property Managers Are In The Crosshairs

Treasuries Hover Around 4.7% As Wall Street Questions If Warsh Is A 'Dove In Hawk's Clothing'

Avison Young Had Assets Frozen By Bank Over Unpaid Taxes

Philly Retail Momentum Spills From Rittenhouse Into Northern Liberties

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Churchill Downs Plans To Sell 9 Casinos, Focus On Horse Racing

Bringing Stability And Savings To CRE Insurance Through Working Layer

More Hotel Owners In Need Of Cash Are Getting It From The Big Brands

Forget Buildings, Retailers Are Leasing Environments

Former Arms Dealer Targeting Heartland Apartment Takeover Files For Bankruptcy

SEC Charges REIT, Its Founders With Alleged $152M Fraud Scheme