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Albertsons, Safeway grocery chains to merge

Albertsons, Safeway grocery chains to merge

The days of the conventional supermarket are numbered.

Safeway Inc.'s announcement Thursday that private equity firm Cerberus Capital Management would acquire the company in a deal valued at about $9.4 billion is the latest sign from the troubled grocery industry that supermarkets have fallen out of style.

The deal combines Safeway with Cerberus' Albertsons chain, creating a dominant grocery franchise on the West Coast. It also creates a grocery network of more than 2,400 stores and 250,000 employees. Safeway has more than 20 stores in the Baltimore area. The company is the second largest supermarket chain in the region after Landover-based Giant...