One of the country’s largest supermarket chains, Albertsons, recently announced the company plans to go public.
This is one of the significantly larger initial public offerings this year, particularly during a time when the market for taking companies public has been generally quiet. The offering listed a preliminary $100 million fundraising target, but the figure is expected to change.
Albertsons was founded in 1939 in Boise, Idaho. The company sold itself in 2006 to a group that encompassed Supervalu, CVS and a partnership made up of Cerberus Capital Management and a handful of real estate firms. Seven years later, in 2013, Cerberus purchased several grocery chains, including Albertsons, from Supervalu to the tune of $3 billion.
Last, year, Cerberus and others purchased Safeway for $9.2 billion. This acquisition closed earlier this year, and helped to pave the way for filing in early July. Albertsons reported $27.2 billion in sales and a $1.2 billion loss in its most recent fiscal year, which included the Safeway acquisition. In 2013, the company reported $20 billion in sales and a $1.7 billion profit.