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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. With Steve Burd as President/CEO, Safeway focused on slashing costs and lowering prices to increase sales and reduce debt. This strategy worked and Safeway began to grow again. In 1997 Safeway acquired Vons stores for $1.376 billion.
In 2005 Safeway set on a mission to reposition its brands. They wanted to differentiate themselves as a higher quality store and redesigned their logo and changed their slogan to “Ingredients for Life”...
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