No, Safeway is not owned by Mormons. Safeway is currently owned by Albertsons Companies, which is a publicly traded corporation.
Safeway's Current Ownership Structure
Safeway became a part of Albertsons Companies through an acquisition that was completed in 2015. Albertsons Companies is one of the largest food and drug retailers in the United States. Its ownership is not tied to a specific religious group or entity.
Instead, Albertsons Companies operates as a public company, meaning:
- Publicly Traded: Shares of Albertsons Companies are traded on the New York Stock Exchange (NYSE) under the ticker symbol ACI.
- Diverse Shareholders: Ownership is distributed among numerous individual and institutional investors who purchase its stock on the open market. Anyone can buy stock in the company, making its ownership diverse and non-centralized.
For more details on their corporate structure and financial information, you can visit their official investor relations page.
Addressing Historical Claims of Mormon Ownership
There is no factual basis to the claim that Safeway, or Albertsons, has ever been owned by the Mormon Church (The Church of Jesus Christ of Latter-day Saints) or its members in a controlling corporate capacity. Both companies have histories rooted in private ownership that later transitioned to public trading, without any direct corporate control by the Church.
- Safeway's History: Founded in 1915, Safeway grew into a major grocery chain through various expansions and acquisitions, eventually becoming a publicly traded company long before its acquisition by Albertsons.
- Albertsons' History: Founded in 1939 by Joe Albertson, it also grew and eventually became a publicly traded entity, experiencing various ownership changes and mergers over the decades, culminating in its current structure which includes the Safeway brand.
The notion of Mormon ownership is a common misconception, often arising from the fact that many successful businesses in Utah and the Intermountain West region were founded by or had strong ties to members of The Church of Jesus Christ of Latter-day Saints. However, this does not apply to the corporate ownership of large national chains like Safeway or Albertsons.
Key Takeaways
- Safeway is owned by Albertsons Companies.
- Albertsons Companies is a publicly traded corporation, meaning its ownership is spread among many shareholders.
- Neither Safeway nor Albertsons has ever been corporately owned or controlled by the Mormon Church or its members.
