Albertsons Companies Plans to List IPO on NYSE Under Ticker 'ABS'
Albertsons Companies, Inc. (NYSE: ABS), filed an amended registration with the U.S. SEC for an Initial Public Offering of its Common Stock. The proposed maximum offering price is $100 million.
The company plans to list on the NYSE under the symbol, ABS.
Underwriters are Goldman, Sachs & Co., BofA Merrill Lynch, Citigroup, Morgan Stanley, and Lazard.
Financial commentary: "During fiscal 2014, excluding Safeway, our identical store sales grew at 7.2 percent. At Safeway, prior to our acquisition, the rate of identical store sales growth accelerated from 1.4 percent in fiscal 2013 to 3.0 percent in fiscal 2014, and we believe that implementation of our playbook will enable us to further accelerate this rate. We are currently executing on an annual synergy plan of approximately $800 million related to the acquisition of Safeway, which we expect to achieve by the end of fiscal 2018. We expect to deliver annual run-rate synergies of approximately $440 million by the end of fiscal 2015."
Albertsons Companies is one of the largest food and drug retailers in the United States, with both strong local presence and national scale.
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