Albertsons Companies Inc Stock Price, News & Analysis

Kroger (NYSE: KR) has extended the expiration date for its exchange offers and consent solicitations related to Albertsons Companies, Inc. (NYSE: ACI) notes. The new expiration date is September 23, 2024, at 5:00 p.m. New York City time. This extension applies to the exchange of up to $7,441,608,000 aggregate principal amount of ACI Notes for new Kroger Notes and cash. The exchange offers and consent solicitations are contingent on the closing of Kroger's merger with ACI, expected in Q4 2024. As of August 29, 2024, the requisite consents were received for the Consented Series, with supplemental indentures executed. The Proposed Amendments will become operative upon settlement of the Exchange Offers. Kroger may further extend the Expiration Date and anticipates providing advance notice of any such extension.

Kroger (NYSE:KR) has extended the expiration date of its exchange offers and consent solicitations for Albertsons Companies, Inc. (NYSE:ACI) notes from September 13, 2024, to September 17, 2024. The exchange offers involve up to $7,441,608,000 aggregate principal amount of new Kroger notes and cash. As of September 11, 2024, significant portions of various ACI note series have been tendered, with many exceeding 90% participation. The exchange offers and consent solicitations are conditional upon the closing of Kroger's merger with ACI, expected in Q4 2024. Settlement is anticipated shortly after the expiration date and merger closing. The exchange offers remain subject to certain conditions and are only available to qualified institutional buyers or non-U.S. persons outside the United States.

Albertsons Companies Foundation has launched the Million Hour Volunteer Rally to support local nonprofits and address hunger. Running through October 31, this initiative invites customers, associates, and partners to collectively contribute one million volunteer hours to various nonprofit organizations across the country.

Participants who record their volunteer hours have the chance to win free groceries for a year and a $5,000 donation to a local hunger relief nonprofit. The campaign responds to a 30% rise in food insecurity from 2022 to 2023, coupled with a 7% decrease in formal volunteering.

The rally is part of Albertsons' Nourishing Neighbors program, which has raised over $297 million since 2014 to combat hunger in America. Partners include Albertsons' O Organics brand and national brands like Kellanova, General Mills, and Coca-Cola.

Albertsons Companies (NYSE: ACI) has launched Overjoyed, its newest Own Brand, marking the company's first major private label debut in recent years. The brand offers a curated selection of indulgent treats, gifts, and décor designed to celebrate everyday moments. Products include cupcakes, cookies, chocolatey trail mixes, cheesecakes, and decorative items.

Overjoyed and its extension, Overjoyed Boutique, are now available in Albertsons Cos. stores, including Albertsons, Safeway, Vons, Jewel-Osco, ACME, and Shaw's. The brand aims to help customers create emotional connections and lasting memories through its high-quality products found in key categories such as bakery, décor, snack mixes, candy, and celebration supplies.

The launch is part of Albertsons' commitment to bringing people together around the joys of food and meeting customers' needs through its Own Brands portfolio.

Albertsons Companies' Lahaina Safeway recently commemorated the first anniversary of the Maui fires with a special event, highlighting community solidarity. The Safeway Foundation raised over $1 million to support local charities, including the Maui Food Bank, Hawaii Foodbank, Boys and Girls Club of Maui, Red Cross Hawaii, and Salvation Army Hawaii. Additionally, Safeway donated $10,000 in gift cards to King Kamehameha III Elementary School to assist students returning to a temporary location after their original campus was damaged in the fires. This event showcases Albertsons Companies' commitment to community support and disaster relief efforts in Maui.

Albertsons Companies [NYSE: ACI] pharmacies are now offering the latest monovalent mRNA COVID vaccines from Pfizer and Moderna, along with the annual flu vaccine, in preparation for the upcoming respiratory virus season. The CDC recommends everyone 6 months and older receive updated 2024-2025 COVID-19 and flu vaccines, with rare exceptions. Albertsons' 1,700 pharmacy locations nationwide provide convenient access to vaccinations, with appointments available online or in-store.

Pharmacists can administer up to five immunizations during appointments, including vaccines for shingles, pneumonia, tetanus, HPV, and RSV. For every immunization, recipients receive a 10% discount coupon on their next grocery purchase up to $200 and access to a free digital vaccine record. Albertsons aims to make the vaccination process seamless and offers evening and weekend hours for added convenience.

Albertsons Companies' Seattle Division partnered with the Seattle Seahawks, KING 5 news, and Northwest Harvest for a successful food drive at the recent Football Fest. The initiative collected over 38,000 snacks for summer meal sites across the Northwest, focusing on kid-approved foods. Albertsons Companies' Own Brands team made a significant contribution, filling an entire eCommerce truck with donations.

This collaboration demonstrates Albertsons Companies' commitment to community engagement and addressing food insecurity. The event not only provided essential snacks for children but also showcased the power of partnerships between businesses, sports teams, and local organizations in making a positive impact on the community.

Kroger (NYSE:KR) announced the results of early participation in its exchange offers and consent solicitations for Albertsons Companies, Inc. (NYSE:ACI) notes. As of August 28, 2024, $6,819,427,000 aggregate principal amount of ACI Notes have been validly tendered, representing approximately 91.64% of the total aggregate ACI Notes outstanding. Kroger has received the requisite consents for several series of ACI Notes to adopt proposed amendments to their governing indentures.

Kroger is waiving the condition requiring requisite consents for each series and plans to accept all validly tendered ACI Notes. The company has amended the exchange consideration to $1,000 principal amount of Kroger Notes for each $1,000 principal amount of ACI Notes tendered. The exchange offers will expire on September 13, 2024, unless extended or terminated earlier.

Albertsons Companies' Southwest Division celebrated the grand reopening of a Las Vegas Albertsons store with a special community event. The highlight of the occasion was the donation of over $110,000 in grants to local nonprofit organizations through the Albertsons Companies Foundation. This initiative demonstrates Albertsons' commitment to making a positive impact in the communities it serves.

The event brought together Albertsons associates and customers, fostering a sense of community while supporting organizations that improve the lives of local residents. This reopening and charitable contribution align with Albertsons' broader corporate social responsibility efforts, showcasing the company's dedication to both business growth and community support.