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Albertsons Companies Continues Its Commitment to Provide Opportunities and Access for Diverse Suppliers
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Albertsons Companies (NYSE: ACI) is enhancing its commitment to diversity by expanding its Supplier Diversity Program. The company is hosting its second virtual summit this week, aiming to partner with diverse-owned businesses. With nearly 1,000 suppliers participating in the first event, Albertsons is focused on alleviating capital challenges faced by these businesses through its early payment program in collaboration with C2FO. Suppliers must be over 50% minority-owned to qualify, with submissions due by February 7 for acceptance announcements in April.
Positive
Expansion of Supplier Diversity Program to support diverse-owned businesses.
Successful first virtual summit with nearly 1,000 suppliers.
Partnership with C2FO to provide working capital solutions.
Negative
None.
Company hosts second virtual event in search of diverse-owned businesses
BOISE, Idaho--(BUSINESS WIRE)--
Albertsons Companies (NYSE: ACI) today reaffirmed its commitment to diversity, equity and inclusion as the company expands its Supplier Diversity Program. The company is seeking to partner and support innovative and diverse suppliers as Albertsons Cos. hosts its second virtual summit this week.
“Albertsons Cos. is dedicated to providing opportunities to diverse suppliers to grow their business and have their products on more shelves,” said Jonathan Mayes, Albertsons Companies SVP, Chief Diversity & Inclusion Officer. “Through this program, we are able to partner with new diverse businesses that also reflect the diverse communities we serve across the nation.”
One of the biggest challenges for small businesses is access to working capital. Albertsons Cos. offers an expanded early payment program through its partnership with C2FO, a secure online platform that provides funding to qualified, diverse-owned suppliers at significantly lower rates. By making access to working capital more equitable, diverse-owned businesses can alleviate immediate capital challenges.
Albertsons Cos. hosted its first successful virtual event in May 2021 with nearly 1,000 diverse suppliers interested in partnering with the company. For 2022, Albertsons Cos. will continue its work with ECRM, RangeMe, and Quantum to broaden its reach and help identify a diverse group of candidates.
Albertsons Cos. is seeking submissions from suppliers that are over 50% owned and controlled/operated by a U.S. citizen and one of the following categories or ethnicities: African American, Asian American, Hispanic, Native American, Lesbian, Gay, Bisexual & Transgender, Service-Disabled Veteran or Female.
For more information or to submit your application by the deadline of February 7, please visit www.rangeme.com/albertsonsdiversitysummit. Acceptance into the Supplier Diversity Program will be announced in April.
About Albertsons Companies
Albertsons Companies is a leading food and drug retailer that operates stores across 34 states and the District of Columbia with more than 20 well-known banners including Albertsons, Safeway, Vons, Jewel-Osco, Shaw's, Acme, Tom Thumb, Randalls, United Supermarkets, Pavilions, Star Market, Haggen, Carrs, Kings Food Markets and Balducci's Food Lovers Market. The Company is committed to helping people across the country live better lives by making a meaningful difference, neighborhood by neighborhood.
