United Supermarkets Parent Company, Albertsons, Resumes Trading on New York Stock Exchange
Nationwide grocer Albertsons, is going public once again. Friday, will mark the start of Albertsons latest stint as a public company, with trading once again on the New York Stock Exchange. The Boise, Idaho based company went private in 2006. Albertsons will trade with the NYSE ticker symbol: "ACI".
Albertsons Companies owns numerous subsidiaries, and boutique grocery store brands, including: its namesake chain Albertsons; plus United Supermarkets, based in Lubbock; Acme Markets; Jewel-Osco, which is located in the Midwest and Chicagoland; Randalls and Tom Thumb, which have locations in Dallas and Houston; Safeway; Shaw's, which is located in New England; and meal-kit company Plated.
CNBC reports that Albertsons' 2020 Initial Public Offering (IPO) is priced at $16 per share, which is below a target price of $18-$20 per share. "U.S. supermarket operator Albertsons Companies on Thursday sold fewer shares than expected at a lower price than planned in its $800 million initial public offering." Albertsons is majority-owned by Cerberus Capital Management LP. CNBC also reported that the number of shares to be sold in the IPO will be dropped from 65 million to 50 million.
Earlier this year, KTVB-TV reported that Albertsons Companies is one of the largest grocery store companies in the U.S., with 2,252 retail grocery locations, 1,726 pharmacies and more than 400 fuel centers.
Albertsons purchased the family-owned United Supermarkets for $385 million in 2013. United Supermarkets' additional brands include Market Street, Amigos and United Express. The United Family of brands currently has locations in Lubbock, across West Texas, New Mexico and the Dallas/Fort Worth Metroplex.