Business News

New ownership for Billings Albertsons

Posted: Jan 10, 2013 8:44 PM by Angela Douglas - MTN News

BILLINGS - Big news for Albertsons grocery stores as new ownership is announced.

All six of the Albertsons stores in Billings are currently owned by Minneapolis-based SUPERVALU Inc., but as of Thursday morning Boise-based Albertsons LLC announced that its parent company A-B Acquisition LLC will purchase Albertson's along with four other large grocery chains.

AB Acquisition is paying $100 million cash, while assuming approximately $3.2 billion in debt in exchange for 877 stores from SUPERVALU Inc.

In addition to Albertsons stores, AB Aqcuisition will acquire Acme, Jewel-Osco, Shaw's and Star Market stores and related Osco and Sav-on in-store pharmacies.

The deal is expected to close Mid-March.

Once the deal is done, Albertson' and its subsidiaries will consist of more than 1,000 stores and 12 distribution centers; Montana is home to ten of those stores.

According to Albertsons LLC Spokeswoman Christine Wilcox, customers will not notice any immediate changes at their local store.