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Cerberus Capital Management
“Named after the three-headed dog guarding hell. Which tracks, given what they did to your grocery prices at Safeway.”
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Cerberus bought Albertsons' struggling stores for $350 million in 2006, then engineered a $9 billion Safeway takeover. Under their ownership, Bay Area price surveys repeatedly ranked Safeway among the most expensive major chains — pricier than Whole Foods in a Consumers' Checkbook comparison. Before the failed Kroger merger, Albertsons paid shareholders a $4 billion special dividend; a judge temporarily blocked it, but courts let it through in January 2023 — about $1.2 billion of it landing with Cerberus.
Founded 1992 · New York, NY