Safeway takes Dominick's off the market
Nov 4, 2003 12:00 PM, from staff and wire reports
Safeway Inc, the Pleasanton CA-based supermarket chain, has taken Dominick's, its Chicago IL-based retail chain, off the market. The Dominick's division had been for sale since November 2002."The unions and the winning bidder have told us they cannot reach an agreement on an acceptable labor contract," said Steve Burd, Safeway's chairman, president, and chief executive officer. "As a result, it makes more sense for us to stop marketing the chain and focus instead on improving Dominick's operations."
Safeway said it would install Randall Onstead as president of Dominick's to lead the effort to bolster the chain. Before joining Safeway, Onstead was chairman and CEO of Randall's Food Markets Inc in Houston TX. He left the company when RandallÕs merged with Safeway in September 1999, but remained a consultant to Safeway and the retail food industry.
Onstead joined Safeway in September and has been working on retail projects. He replaces Scott Grimmett, who will become president of Safeway's Denver CO division.
