President John T. Niccollai
Parent Firm Albertsons Said To Be Shopping Acme And Its Other Grocery Chains
On Tuesday, March 1, 2022 CNBC reported that Albertsons may be looking to sell off some of its Grocery Store Banners. That story was subsequently followed up by a number of additional stories restating the same set of facts.
Upon hearing the initial story, your Union immediately reached out to Corporate to determine whether there was any truth to the story and, further, what the intentions were of Albertsons. Your Union was informed that Cerberus Capital Management and Lubert-Adler Partners, which owns respectively 32% and 12% of the Company (a minority interest), are seeking to sell their interest in the Company.
It’s not unusual for Investment Firms to sell their interest in order to turn a profit. Neither Cerberus nor Lubert-Adler are supermarket operators; they are Investment Firms looking to turn a profit and move on to another investment.
Your Union will continue to keep a close eye on these developments and will report back any meaningful changes in the current scenario.
Just as your Union protected our ACME and Kings Brothers and Sisters when prospective buyers attempted to take away their Pensions, Health Care and wage levels, we shall once again protect and fight for our joint outstanding accomplishments through the decades.
WORK SMARTLY – WORK SAFELY!