Albertsons files for IPO; cites improved performance

Albertsons Companies is looking to return to the public arena.

The nation’s second-largest supermarket retailer filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering. Albertsons plans to list under the ticker "ACI" on the New York Stock Exchange.

In its filing, Albertsons listed the size of the offering as $100 million. But this is likely a placeholder for a deal that could raise up to $2 billion, according to reports.

Albertsons operates approximately 2,260 stores under 20 different banners in 24 states. It earned $131 million on revenue of $61 billion for the fiscal year ended Feb. 23, 2019, up from income of $46 million on revenue of $60 billion during the year-ago period. In its prospectus, Albertsons said its same-store sales have grown for eight consecutive quarters.

“We are proud of the progress we have made over the past few years, and believe we have a long runway for growth ahead of us,” CEO Vivek Sankaran said.

The company, backed by private equity firm Cerberus, previously filed for an IPO in 2015. But it postponed the offering and eventually withdrew it in 2018 ahead of its planned merger with Rite-Aid. (The deal fell apart due to investor pushback.)

Albertsons’ banners include Albertsons, Safeway, Vons, Jewel-Osco, Shaw’s, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen and Carrs.

For an in-depth analysis of Albertsons by CSA sister publication Retail Leader, click here.