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

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

Is Safeway Private Equity Owned?

PRIVATE EQUITY OWNED

Safeway

grocery · Pleasanton, CA

PE Firm: Cerberus 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

Sources

See something wrong?

Safeway

The PE Playbook

Since the Acquisition

Sources

Also owned by Cerberus Capital Management

Also PE-touched in Grocery & Food

We’ll keep you posted

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