Albertsons Companies Inc - ACI STOCK NEWS

Albertsons Companies Foundation is distributing nearly $14 million in grants from its Nourishing Neighbors community relief fund to aid local hunger-fighting organizations across the United States. This includes nearly $4 million allocated to 13 large innovation grants for new and impactful hunger relief initiatives. The foundation's commitment stems from a $53 million pledge made earlier this year to combat food insecurity exacerbated by the pandemic. In addition, over 140 organizations will receive grants of up to $100,000 to enhance hunger-relief efforts in marginalized communities.

Albertsons Companies (ACI) has announced the pricing of an upsized private offering of $600 million in additional Senior Notes due 2029, issued at 99% of principal amount. The offering, co-issued with Safeway Inc. and New Albertsons L.P., is expected to close on or about December 22, 2020. The funds will be used to partially redeem $800 million of its outstanding 5.750% senior notes due 2025 and cover related expenses. Completion of the redemption is anticipated on or about January 4, 2021.

Albertsons Companies (NYSE: ACI) announced plans to offer $500 million in additional 3.500% Senior Notes due 2029. The proceeds will fund a partial redemption of $700 million of its 5.750% Senior Notes due 2025 and cover associated fees. The offering is conditional upon the successful completion of this sale. Albertsons operates over 2,200 retail stores and is committed to community initiatives, including significant donations for food relief and social justice. The press release includes forward-looking statements regarding potential future outcomes.

Albertsons Companies (NYSE: ACI) has announced the ratification of a memorandum of understanding with nine local unions to establish a Variable Annuity Pension Plan (VAPP) effective July 1, 2020, protecting employees' benefits. The company will pay a withdrawal liability of approximately $286 million to the National Fund by June 30, 2023, in three installments, with an initial pre-funding of $8 million.

This agreement aims to lower future financial risks and secure benefits for associates, fixing projected pension costs through June 30, 2028.

Albertsons Companies (NYSE: ACI) will host an interactive webcast on December 7, 2020, at 11 am ET to discuss its Own Brands portfolio as a key growth driver. Chief Merchandising Officer Geoff White and SVP of Own Brands Chad Coester will present, followed by a Q&A session. This is part of the Albertsons Insights series aimed at highlighting the company's capabilities and initiatives. Replays will be available for two weeks post-event. For more information, visit albertsonscompanies.com/investors.

Albertsons Companies (NYSE: ACI) has announced that its President and CEO, Vivek Sankaran, will participate in the Morgan Stanley Virtual Global Consumer & Retail Conference on December 3, 2020, at 2:00 p.m. ET. The presentation will be available for live streaming on the Company’s website and will have a replay for two weeks post-event. Albertsons operates stores across 34 states under various banners and has committed $53 million for community hunger relief in 2020 and $5 million for social justice efforts, contributing to a total of $225 million in food and financial support in 2019.

Albertsons Companies has enhanced health screenings for its associates and vendors by implementing contactless temperature checks and digital health questionnaires across all locations.

Partnering with Turing Video Inc., this new technology allows for safer health screenings, ensuring compliance with CDC recommendations. Successful screenings yield a 'CLEAR' sticker for associates, while the system promotes a healthier workplace environment. This initiative underscores Albertsons' commitment to safety amidst the ongoing COVID-19 pandemic.

Albertsons Companies has launched its new line of Open Nature Savory Skillet Meals, designed for quick preparation and high-quality dining. These flash-frozen meals, ready in as little as 10 minutes, feature natural ingredients free from artificial additives. The innovative nitro flash-freezing technology preserves flavor and freshness, with a variety of restaurant-inspired options available, including prime rib roast and chicken tikka masala. The meals are part of the company's Own Brands portfolio and can be ordered online or found in-store.

Albertsons Companies is enhancing its online grocery shopping experience by accepting SNAP EBT payments at nearly 200 Drive Up & Go locations nationwide. This initiative aims to provide contactless shopping options for more customers. Users can create an account, fill their cart, and select SNAP EBT at checkout. The company plans to expand the Drive Up & Go locations to 1,400 by the end of the fiscal year, reflecting a strategic push in digital and eCommerce offerings.