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In the early 1900’s S.M. Skaggs a minister from the small town of American Falls, Idaho opened his first grocery store. S. M. Skaggs had a hard time making the business profitable so he sold it to his son M. B. Skaggs in 1915. M. B. was very energetic and had a very solid business sense. With the help of his five brothers, by 1926 he was able to expand the business to include 428 stores in ten states. His strategy was to give the customer value while keeping a narrow profit margin.
In the same year, Charles Merrill (Merrill Lynch) who owned Selig Stores, and Skaggs decided to merge and become Safeway Stores. This merger expanded quickly, and by 1928 there were 2020 stores and the business was being traded on the New York Stock Exchange.
In 1986 Safeway was acquired by Kohlberg, Kravis & Roberts. KKR took the business private and downsized, closing half of their stores, including selling the UK business, in order to pay off debt. Safeway went public again in 1990.......

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Approximate Word Count: 1643
Approximate Pages: 7 (250 words per double-spaced page)

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