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REPORT: Safeway To Be Sold for $9 Billion

REPORT: Safeway To Be Sold for $9 Billion
Posted March 7th, 2014 @ 7:02am by KFBK News

One of the nation's largest grocery chains is reportedly about to have a new owner.

According to a report in the "Wall Street Journal," Cerberus Capital Management has a preliminary agreement to buy Bay Area-based Safeway at a price of more than $9 billion.

Cerberus already owns Albertson's, which is the fifth largest chain in the nation.

Safeway is the second largest, by market share.

Any deal would be subject to a thumbs up from Safeway's board of directors.  

RELATED: Safeway Settles with California Counties

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