Is Safeway Private Equity Owned?

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🔴 PRIVATE EQUITY OWNED

Safeway

grocery · Pleasanton, CA

PE FirmCerberus Capital Management →

Acquirer

Albertsons (PE-backed)

Year Acquired

2015

“Cerberus promised no store closures. Then closed 160+ stores.”

The PE Playbook

•Cerberus-led group acquired Safeway for $9.2B in 2015, financing ~$7.8B through debt; promised 'no store closures are expected'
•Closed 160+ grocery stores nationwide post-merger, including 40 in Colorado alone within five years
•Loaded the combined Albertsons empire with $12.5 billion in debt, consuming resources that could fund store improvements
•Attempted a $4B special dividend to PE owners ahead of Kroger merger — blocked by a Washington State court

Since the Acquisition

▸168 stores closed across eight states as a condition of the merger, with 40+ Safeway/Albertsons locations closed in Colorado alone
▸12 more Safeway stores across Colorado, Nebraska, and New Mexico announced for closure in 2025, affecting 600+ workers and creating food deserts
▸Nearly 400 corporate staff laid off in February 2025; another 225 cut from the Phoenix office
▸Albertsons' own CEO testified that its prices are higher than competitors like Walmart and Kroger

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Frequently Asked Questions

Is Safeway owned by private equity?

Yes. Safeway is currently owned by Cerberus Capital Management, which acquired it in 2015. Cerberus promised no store closures. Then closed 160+ stores.

What happened to Safeway after the acquisition?

168 stores closed across eight states as a condition of the merger, with 40+ Safeway/Albertsons locations closed in Colorado alone 12 more Safeway stores across Colorado, Nebraska, and New Mexico announced for closure in 2025, affecting 600+ workers and creating food deserts

Who owns Safeway?

Safeway is owned by Cerberus Capital Management, which acquired it in 2015.