Albertsons Companies Inc Stock Price, News & Analysis

Albertsons Companies (ACI) partnered with the State of Washington Department of Ecology's Use Food Well campaign to promote food waste reduction during the holiday season. The initiative was highlighted at a Seattle Safeway store, where Food Center Lead Jade Monroe provided tips on reducing food waste through smart shopping, meal planning, and proper food storage. This effort aligns with Albertsons' broader sustainability initiative, Recipe for Change.

Albertsons Companies' Portland Division collaborated with Sunshine Division for their inaugural Thanksgiving Meal Delivery initiative. The effort involved packing thousands of meal bags containing frozen turkeys and traditional side dishes like mashed potatoes and stuffing. Company associates worked alongside hundreds of volunteers to prepare meal bags for distribution to 2,000 households.

Kroger has extended the expiration date of its exchange offers for Albertsons Companies notes from December 9 to December 13, 2024. The exchange offers cover up to $7.44 billion aggregate principal amount of new Kroger notes and cash in exchange for outstanding Albertsons notes. The settlement is expected to occur promptly after the expiration date and the closing of the merger, which is anticipated during Q4 2024.

As of August 29, 2024, the required consents were received for the Consented Series, with supplemental indentures executed. The proposed amendments will become operative upon settlement. Tenders can be withdrawn before the expiration date, and the exchange offers remain conditional upon the merger closing.

Albertsons Companies has expressed profound gratitude to its associates, customers, and partners for their participation in the Nourishing Neighbors Million Hour Volunteer Rally. Through this initiative, over $500,000 worth of volunteer hours were contributed. These efforts provided essential support to food banks and pantries in urgent need, with volunteers sorting and packing food, delivering meals, and assisting with administrative tasks. The initiative highlighted the power of community and collective efforts in addressing hunger, making a significant impact on local communities.

Albertsons Companies has awarded a grant to Toppenish High School through their Nourishing Neighbors program for their participation in the Explore.Act.Tell. (E.A.T.) Program. The school established the THS Pantry project, successfully collecting over 1,400 non-perishable food items through an advisory class donation drive to combat food insecurity among students and families.

The project, managed by NHS and SkillsUSA members, has developed partnerships with local businesses for consistent food donations and weekly distributions. Future plans include expanding partnerships, offering nutrition workshops, and establishing a permanent oversight committee for sustainability.

Kroger has extended the expiration date of its exchange offers and consent solicitations for Albertsons Companies notes from December 3, 2024, to December 9, 2024. The exchange offers involve up to $7.44 billion aggregate principal amount of new Kroger notes and cash in exchange for outstanding Albertsons notes. The settlement is expected to occur promptly after the expiration date and the closing of the merger, which is anticipated during the fourth quarter of 2024. The merger will result in Albertsons becoming a direct, wholly-owned subsidiary of Kroger.

Albertsons Companies' Mid-Atlantic division demonstrated its community engagement through a volunteer initiative at Greater Goods food pantry in Philadelphia. Nearly 20 associates collaborated to transform the facility by installing new grocery fixtures, stocking shelves, and renovating the space to create a more dignified shopping experience for food pantry clients. The makeover was completed in partnership with CPG partners to enhance the food pantry's operations and appearance.

Albertsons Store Director Mac McLeod was honored at the Santa Clarita Valley Mayor's Committee Brunch for his exceptional partnership with the New Horizons Pathways Program. The program focuses on creating employment opportunities for individuals with diverse abilities through internships, graduate positions, and career development initiatives.

McLeod delivered an inspiring speech highlighting the program's positive impact on his store (#1360) and associates. The initiative demonstrates Albertsons' commitment to fostering an inclusive workplace through training, mentoring, and career advancement opportunities. The program has received positive feedback from the vendor community, showcasing its success in driving meaningful change.

Kroger has extended the expiration date of its exchange offers for Albertsons Companies notes from November 26, 2024, to December 3, 2024. The exchange offers involve up to $7.44 billion aggregate principal amount of new Kroger notes and cash in exchange for outstanding Albertsons notes. The settlement is expected to occur after the expiration date and coincide with the merger closing, anticipated in Q4 2024. The required consents for certain series were received on August 29, 2024, with amendments to become operative upon settlement. The exchange offers remain conditional upon the merger completion and other conditions that may be waived by Kroger.