Albertsons Companies Announces Review of Strategy Outlook; Chan Galbato Discusses
BOISE, ID - Deep diving into its ongoing growth plans, Albertsons announced the launch of a Board-led review of potential strategic alternatives. With growth and the maximization of shareholder value on the company’s mind, the review will assess the various documents, data, and ongoing plans to see if the development of new strategic initiatives is necessary to complement the retailer’s existing business model.
"The Board believes the continuing strength of our business and the scale of our portfolio of assets warrants a deep and considered review of all possible paths towards maximizing value creation,” said Chan Galbato, Co-Chair of the Board of Directors. “Albertsons operates more than 2,270 stores across 34 states with growing digital and omnichannel capabilities, along with a vast dedicated manufacturing and distribution infrastructure, which has become integral to the fabric of communities across the U.S. The Board believes that this review, coupled with an ongoing focus on accelerating our transformation strategy, will create enhanced value for all our stakeholders including our customers, associates, and investors.”
Throughout the assessment, Albertsons has retained Goldman Sachs and Credit Suisse to serve as financial advisors assisting in the review, a release noted. A timetable for the conclusion of the review has not been set yet, and the company has not made any official decisions regarding further actions or potential initiatives.
Albertsons stated that no assurance can be made that the review will result in any transaction or other strategic change or outcomes.
As more information on this review becomes available, AndNowUKnow will bring you the latest updates.