Il Villaggio - Fresh Mozzarella - Made to order everyday
unearthed - Olives with Chili - Great Balls of Fire - If you love chili, you'll love these olives
Eiffel Tower - A creamy cow’s milk delight, featuring a chalky white rind and a cream-colored, buttery, soft interior that oozes when at the peak of ripeness and temperature
Albertsons Companies Announces New Partnership and $50 Million Fund to Invest in and Grow New Grocery Companies

Albertsons Companies Announces New Partnership and $50 Million Fund to Invest in and Grow New Grocery Companies


NEW YORK, NY & BOISE, ID
Friday, August 3rd, 2018

In a move designed to disrupt the grocery industry, Albertsons Companies is teaming up with Greycroft to introduce a $50 million fund that will help grow emerging companies and technologies in the grocery sector.

Shane Sampson, Chief Marketing & Merchandising Officer, Albertsons Companies“Albertsons Companies is committed to meeting customers wherever and however they like to shop, and part of that is being at the forefront of the tremendous innovation our industry has seen over the last five years,” said Shane Sampson, Albertsons’ Chief Marketing & Merchandising Officer, in a press release. “As we saw with our recent acquisition of Plated, Albertsons Companies has the capital, scale, and expertise to power future growth of the most promising emerging businesses and technologies across the food and grocery space. We are thrilled to be partnering with Greycroft, whose investment acumen and relationships are positioned to be key drivers of our success.”

Albertsons Companies is partnering with venture capital firm Greycroft to create a $50 million fund

Greycroft brings its expertise and connections with investing into early-stage technology, while Albertsons Companies offers grocery savvy and a coast-to-coast footprint. Together, the companies will fund Albertsons’ efforts to create a broader technology strategy and provide insights and opportunities to partner with new and emerging technologies influencing the grocery industry.

A company press release noted that Albertsons is already a leader in the e-commerce home delivery scene in eight out of the top 10 MSA’s in the U.S.

Ian Sigalow, Co-Founder and Partner, Greycroft“As our eCommerce companies scale, they often incorporate a brick-and-mortar strategy to reach the entire US market. This partnership with Albertsons Companies will enable our companies to tap into their 34 million weekly customers, across a wide range of industries including consumer products, healthcare, wellness, pharmaceuticals, and grocery,” said Ian Sigalow, Co-Founder and Partner of Greycroft. “We believe that consumers should be able to get access to these high quality products and services whenever they want, wherever they want, and that requires a coast-to-coast footprint.”

Stick with Deli Market News for more news on the fresh food industry.

Albertsons Companies
Topics:


Il Villaggio - Fresh Mozzarella - Made to order everydayunearthed - Olives with Chili - Great Balls of Fire - If you love chili, you'll love these olivesEiffel Tower - A creamy cow’s milk delight, featuring a chalky white rind and a cream-colored, buttery, soft interior that oozes when at the peak of ripeness and temperature

Have a new product, press release or story idea?

Let us know

In This Story


Your favorite neighborhood food and drug retailer with helpful associates, competitive prices and high quality, fresh products.

WCMA Supports Dairy Industry’s Future Leaders with Scholarships Worth $15,000

Each year, the association shows its support for the dairy industry’s next generation of leaders by announcing the names of this year's recipients.
View Press Release

Eggland’s Best and Life Time Challenge Families to “Plus It Up”

Eggland’s Best (EB), the #1 branded egg in the U.S., is teaming up with the Life Time 60daySM program to encourage families to “plus it up” when it comes to their overall nutrition and wellness.
View Press Release

WCMA Recognizes Contest Leaders with Awards

On Wednesday, March 6, the Wisconsin Cheese Makers Association, host of the 2019 U.S. Championship Cheese Contest, honored Steve Krause, John Jaeggi, and John Umhoefer for their work to support and grow the contest.
View Press Release

WCMA Announces Ideas Showcase Line-Up at 2019 Cheese Industry Conference

Register online at CheeseConference.org through April 8!
View Press Release

Marley Spoon’s Customer-Centric Approach to Grow Market Share in the U.S.

The Martha Stewart-backed company is set to offer customers far MORE choice.
View Press Release

Michel et Augustin Launches New Cookie and Packaging Redesign at Expo West

The Troublemakers of Taste is excited to unveil an exclusive U.S. packaging re-design and a new flavor at this year’s expo.
View Press Release

WCMA Applauds Governor Evers’ Support of Dairy Processing Industry in State Budget Proposal

The association's Executive Director John Umhoefer comments on the state's support and outlines what he hopes will be included in the 2019-21 budget.
View Press Release

Kauai Coffee® Selected as Best Hawaii Grown Coffee Brand

The company is chosen by HAWAIʻI Magazine as its Readers’ Choice Awards pick for “Best of All Islands: Coffee.”
View Press Release