Albertsons Halts Renewed Plans for IPO After Amazon Announces Whole Foods Acquisition
BOISE, ID – Albertsons is pressing pause on its initial public offering, almost two years after the company first postponed its IPO. Albertsons is reportedly halting its previous plans to reintroduce the company's IPO, at least for the time being.
These plans, Bloomberg reported, may only be halted short-term. Bloomberg noted that despite recent disruptions in the industry, Albertsons had been considering reviving its IPO plans and going public as soon as this year. The retailer has continued to update its quarterly financial results in amended filings with the U.S. Securities and Exchange Commission, which the news source noted may indicate that Albertsons’ IPO plans may not be scuttled for good.
And the company is purportedly still eying an acquisition that may give Albertsons momentum going into an IPO. As recently as March, Bloomberg reports, the company was discussing plans to acquire Sprouts Farmers Market—a move, the financial news source noted, would give Albertsons increased expertise on perishables and natural foods that could be applied across its various banners.
Bloomberg stated that this latest news of Albertons IPO comes in the wake of a string of announcements. The news source cited Albertsons' reported bid for Whole Foods earlier this year, the current $13.7 billion acquisition between Amazon and Whole Foods, recent stock performance of Kroger, and the less-than-optimal performance of Blue Apron’s IPO as contributing factors to company delaying its IPO.
After Amazon’s announcement that it had reached an agreement to acquire Whole Foods in June of this year, traditional grocery stocks declined, with major retailers like Kroger, Supervalu, and Weis Markets hemorrhaging market value overnight.
What’s next for Albertsons IPO debut? AndNowUKnow will report.