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on to realizing increased sales, profitability and free cash flow through the implementation of our operating playbook, we expect synergies from the Safeway acquisition to enhance our profitability and free cash flow over the next few years. OUR INTEGRATION HISTORY Over the past nine years, we have com

inning with our purchase of Albertson's LLC in 2006 (the "Legacy Albertsons Stores"). This was followed in March 2013 by our acquisition of NAI from SUPERVALU INC. ("SuperValu"), which included the Albertsons stores that we did not already own (the 'SVU Albertsons Stores" and, together with the Legacy Albertso

n reliance upon the reports of such firm given upon their authority as experts in accounting and auditing. The consolidated financial statements of Safeway as of January 3, 2015 and December 28, 2013 and for the 53 weeks ended January 3, 2015, and the 52 weeks ended December 28, 2013 and December 29, 20

of such firm given upon their authority as experts in accounting and auditing. The combined financial statements of the New Albertson's business of SUPERVALU INC. and subsidiaries as of February 21, 2013 and February 23, 2012 and for each of the fiscal years in the three-year period ended February 21, 2013 hav

ed in Cost of sales $ 397.0 $ 452.5 Selling and administrative expenses 59.2 63.8 Total $ 456.2 $ 516.3 Cerberus In connection with the Safeway acquisition, the original management agreement with Cerberus was terminated. A new management agreement with Cerberus and the consortium of investor

ony Investors LLC ("Symphony"), which is owned by a consortium of investors led by Cerberus Capital Management, L.P. (`Cerberus"), acquired 21.1% of SUPERVALU INC. ("SuperValu") common shares. On April 23, 2015, Symphony distributed all of the SuperValu common shares held by it to the members of Symphony. As of

posed of retail food businesses and in-store pharmacies with operations primarily located throughout the United States under the banners Albertsons, Safeway, Vons. Pavilions, Randalls, Tom Thumb. Carrs Quality Centers, United Supermarkets, Market Street, Amigos, United Express, Say-On, Jewel-Osco, ACME,

rated 51 supermarkets under the banners United Supermarkets, Market Street, Amigos and United Express. On March 21, 2013, the Company acquired from SUPERVALU INC. ("SuperValu") all of the issued and outstanding shares of New Albertson's, Inc. ("NAI") through a newly formed subsidiary of the Company, NAI Holdin