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February 08, 2016 8:42 AM ET

Food and Staples Retailing

Company Overview of New Albertson's, Inc.

Company Overview

New Albertson's, Inc. operates a network of grocery and drug stores in the Northwest and West Coast. It offers various products, including deli, bakery, total photo, fresh produce, gift cards and floral, meat and seafood, and natural and organic products. The company also provides prescription products, as well as in-store health screenings, personalized medical reviews, health education, and adult immunization services. It also provides online shopping services. The company was formerly known as Albertson’s, Inc. and changed its name to New Albertson's, Inc. in June, 2006. The company was founded in 1939 and is based in Spokane, Washington with stores in Arkansas, Arizona, California, Color...

157 South Howard Street

Spokane, WA 99201

United States

Founded in 1939

Phone:

877-932-7948

Key Executives for New Albertson's, Inc.

President and Chief Operating Officer
Age: 61
Senior Vice President and President of Retail West
Age: 54
Executive Vice President and President of Retail East
Age: 63
Chief Information Officer and Senior Vice President
Age: 61
Senior Vice President of Finance
Age: 53
Compensation as of Fiscal Year 2015.

New Albertson's, Inc. Key Developments

Albertsons Settles Haggen's $1 Billion Lawsuit, but for Only $5.75 Million

The settlement for the $1 billion lawsuit that Haggen had lodged against Albertsons was reached on January 21, 2016. The battle between the grocers all started at the end of 2014 when Haggen agreed to acquire 146 stores that Albertsons and Safeway were forced to divest after the two companies merged, taking Haggen's footprint from 18 locations to 164 in Washington, Oregon, Arizona, Nevada and California. Haggen then claimed Albertsons tried to sabotage the company during the transition of those stores and filed a $1 billion lawsuit against Albertsons. Days later Haggen entered bankruptcy protection to work toward restructuring the company. In its $1 billion lawsuit, Haggen alleged Albertsons gave inaccurate price data, causing Haggen to inflate prices, which lead to the demise of its plan to expand throughout the West Coast and caused store closures and hundreds of layoffs. Albertsons at the time called the allegations completely without merit and mere retaliation to a $41 million suit it had already filed against Haggen. U.S. Bankruptcy Judge Kevin Gross signed an order Dec. 4 approving a Feb. 5 auction of Haggen's remaining core 33 stores. In a previous auction in November, 47 stores that Haggen had recently acquired were sold off to various sellers as part of the chain's Chapter 11 bankruptcy. Albertson's won bids for 30 stores, including 10 in Washington state and three in Oregon. In some cases, Albertsons won the stores for as little as $1. The $5.5 million cash settlement from Albertsons is subject to approval from the bankruptcy court administering Haggen's case. As part of the settlement deal, Haggen also agrees to recognize Albertsons' unsecured claim of $8.25 million in the bankruptcy.

Albertsons Opens New Culinary Center for Own Brands

Albertsons opened new culinary center for own brands The new Culinary Kitchens & Technical Center that will house the various teams, numbering about 70 people, opened in Dublin, Calif., in a 33,000-square-foot building across from Safeway's main office in Pleasanton, Calif. The project was in development before the Albertsons-Safeway merger. The facility's purpose is to develop innovative items and drive new and expanded categories, as well as figuring out ways to improve existing products and resolving problems that come up. Now that Safeway is part of the larger Albertsons operation.

The Teamsters Union Ratifies New Contract at Ralphs, Vons and Albertsons

The Teamsters Union announced that a majority of its members working as drivers, warehouse workers and in dairy and manufacturing at grocery companies Ralphs, Vons and Albertsons in Southern California have ratified a new five-year agreement. The new agreement raises work standards and compensation for the more than 2,000 employees represented by the Teamsters.

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