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Albertsons will be Albertsons

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A New York City investor group has acquired all Albertsons stores in the Rocky Mountains, the Southwest, Florida, northern California and in the Dallas-Fort Worth area. The stores, including the three Albertsons in Grand Junction area, will be operated under the Albertsons name on an ongoing basis.

Cerberus Capital Management, based in New York City, leads the investor group which includes Supervalu, Inc. and CVS Corporation; the sale is expected to close in mid-2006. Cerberus is an investment group that “looks for undervalued assets and helps them grow” according to Richard Auletta. Cerberus investors include Kimco Realty Corp., Lubert-Adler Partners and Klaff Realty.

Benefits plans and programs are to be maintained for employees.

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