Albertsons Companies Inc., one of the largest grocery chains in the United States, is pursuing an initial public offering of its stock, National Real Estate Investor reports.
The IPO is expected to rake in $100,000 for the Idaho-based company. Revenue made from the deal is intended to be used for paying off corporate debt and boosting in-store sales.
Albertsons' IPO filing with the Security and Exchange Commission does not include specific figures for the price range of stock.
"The chains that went public over the past few years were selling a growth story," DJM Real Estate managing director of supermarket advisory services Andy Couch told the site.
"Albertson's has a little bit of a different story-one that's refreshingly realistic-and I think that's going to appeal to investors."
Albertsons officials are expected to hire over 1,400 part-and full-time workers in Southern California in the last two quarters of fiscal year 2015, the OC Register reports.
The country's second-largest supermarket chain is joined by others such as Vons and Pavilions, which are also part of the employment initiative. Albertsons is looking to add over 300 jobs in Orange County and 479 in Los Angeles.
"Traditional supermarket chains are in a very challenging position and they need to enhance their differentiation, improve their competitiveness," Technomic Executive Vice President Bob Goldin told Reuters. Technomic is a foodservice consultation agency.
"They have a tough game to win."
Krugers, the largest supermarket chain in the country, has also contributed to declining Albertsons profits. The company recently reported a 23 percent rise in quarterly profit, which is partly attributed to low fuel costs.
Albertsons was founded in 1939 in Boise, Idaho.
