Regulators OK sale of Shaw’s parent firm

BOISE, Idaho – Albertson’s Inc., the nation’s second-largest grocery store chain, announced Tuesday that the Federal Trade Commission has approved the $9.7 billion sale of the company to a consortium led by Minnesota-based grocer Supervalu Inc. and drugstore chain CVS Corp.

Only Kroger Co. will be larger once Supervalu takes over 1,124 stores under the Albertson’s, Acme Markets, Bristol Farms, Jewel-Osco, and Shaw’s Supermarkets banners, which were all owned by Albertson’s. The expanded Supervalu will have 2,656 stores nationwide.

Shaw’s traces its roots to the first George C. Shaw store, which opened in Portland, Maine, in 1860. Shaw’s has more than 20 stores and 3,100 employees in Maine, including two in Bangor, where it goes head-to-head with Hannaford.

Albertson’s President and CEO Larry Johnston said last week the sale of the company was expected to close within four months, pending approval of the transaction by both Albertson’s and Supervalu shareholders.