Safeway 2000 Annual Report Download - page 8

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6
Growth Through Leadership: Yesterday
A TRADITION OF INNOVATION
Safeway was first incorporated 75 years ago, on March 24, 1926, upon
payment of a $960 tax and a $15 recording fee to the state of Maryland.
However, we trace our roots back to 1915 and the small Idaho town of
American Falls, where Marion B. Skaggs bought his father’s tiny grocery
store for $1,088. Less than 11 years later, with the help of his five brothers
and other pioneering grocers, Skaggs built his fledgling organization to
428 grocery stores and meat markets spanning 10 western states. In 1926
these units merged with the 322 former Sam Seelig stores in southern
California (which had adopted the name “Safeway” the previous year).
The combined company was called Safeway, with M. B. Skaggs as chief
executive. ■■From the beginning, the company has been an industry leader
in developing innovative programs to help consumers make wiser buying
decisions. We believe we were the first grocer to price produce by the pound
rather than by the piece or bunch. As early as 1935, we were including
expiration dates on labels of perishable products to ensure freshness. We also
helped pioneer unit pricing to show both the total price and the price per
75 YEARS OF
INNOVATION
1926
> Safeway incorporated
in Maryland.
1928
> Safeway common stock
listed on NYSE.
1929
> Canada Safeway Ltd.
established in Winnipeg.
1931
> After acquiring
1,400-store McMarr chain,
Safeway reaches all-time
high of 3,257 stores.
1966
> Central data processing
established in Oakland,
California.
1977
> Company consolidates
its private-label manufac-
turing divisions into a single
complex in Walnut Creek,
California.
1981
> Safeway enters into a
joint venture with Casa
Ley, S.A., acquiring a 49%
interest in Mexican retailer.
1985
> Australia Division sold
to Woolworth’s Ltd.
1986
> Company is taken
private via a leveraged
buyout with Kohlberg
Kravis Roberts & Co.
1987
> Safeway divests United
Kingdom, Dallas, Salt Lake
City, El Paso and Oklahoma
Divisions, as well as its
Liquor Barn subsidiary.