Less than a month after grocery store chain Safeway announced the company was in discussions regarding a possible sale, it said private equity firm Cerberus Capital Management would acquire the company in a deal valued at about $9.4 billion.
The deal combines Safeway with Cerberus’ Albertsons chain, which creates a formidable grocery franchise on the West Coast. It also creates a grocery network of more than 2,400 stores and 250,000 employees.
No store closures are expected, according to the company. Last June, Albertsons announced....