Albertsons and venture capital firm Greycroft have created an investment fund, of up to $50 million over time, that will invest in and aim to help grow emerging companies and technologies in the grocery channel.
Rite Aid has sent a letter to shareholders urging their support for the pending Albertsons merger at the company’s upcoming special meeting.
As it advances its merger with Rite Aid, Albertsons posted a first quarter net loss of $17.7 million versus a net loss of $204.9 million in the year-prior period.
As Rite Aid prepares for its pending merger with supermarket operator Albertsons, the drug store chain posted a net loss in the first quarter.
Albertsons has initiated a general registration for the company’s soon-to-be-launched digital marketplace, which will allow participating vendors to direct ship Albertsons customers.
As part of its charitable efforts, Albertsons Companies said that in the span of 21 days, its customers and employees helped raise more than $8 million in disaster relief donations for the victims of Hurricanes Harvey and Irma through a point-of-sale campaign at its 2,300-plus stores.
Albertsons is about to enter the meal kit delivery business with the acquisition of Plated, which will operate as a wholly-owned subsidiary of the grocery retailer. The deal is expected to close by the end of September.
Albertsons Companies has appointed Kevin Turner vice chairman of the board of managers of AB Acquisition LLC, the company’s direct parent, and senior advisor to the chairman and CEO, Bob Miller.