Albertsons Companies Continues Its Efforts for Racial Equity With Enhanced Supplier Diversity Program
June 02 2021 - 12:00PM
Business Wire
Company enters new vendor partnerships to
increase diverse suppliers’ access to capital and provide more
opportunities for collaboration
Albertsons Companies (NYSE: ACI) today announced the launch of
several new vendor partnerships aimed at helping the company boost
supplier diversity as the company reaffirms its commitment to
racial equity.
“Albertsons Companies is dedicated to helping our communities
lay the foundation for racial equity,” said Jonathan Mayes,
Albertsons Companies SVP, Chief Diversity & Inclusion Officer.
“We’re taking these steps as part of our commitment to diversity,
equity and inclusion in our company and the businesses we choose to
partner with so that we reflect the wonderfully diverse communities
we serve.”
Given one of the biggest hurdles for small businesses is access
to working capital, Albertsons Cos. is launching an expanded early
payment program by partnering with C2FO, a secure online platform
for working capital, as part of this program. This partnership with
C2FO will help determine the best time and terms for payments
between Albertsons Cos. and suppliers. The goal is to help
diverse-owned businesses alleviate immediate capital challenges by
making access to working capital more equitable by providing
funding to qualified, diverse-owned suppliers at significantly
lower rates.
“Accelerated payment of receivables is essential for all
businesses in need of greater liquidity, but especially for those
that may be underrepresented and underfunded in our current
financial system,” said Alexander “Sandy” Kemper, founder and CEO
of C2FO. “We want to position these diverse suppliers for long-term
success and can start by offering the working capital needed to
grow and stay strong in this difficult economic climate. We are
honored to join Albertsons Companies in their ongoing efforts to
support the partners and communities it serves.”
Albertsons Cos. also plans to work with ECRM, RangeMe, and
Quantum to expand supplier diversity. ECRM and RangeMe will help
identify small, innovative, diverse suppliers. Quantum, an
eProcurement and diversity spend management solution, will enhance
Albertsons Cos.’ ability to identify diverse-owned and operated
suppliers.
Earlier this month, Albertsons Cos. hosted a summit with over
130 diverse suppliers interested in doing business with the
company.
“We believe our partnerships with these vendors will give us the
tools we need to expand our supplier diversity in all areas of our
business,” Mayes said. “We hope it will also make it easier for
diverse suppliers to work with us.”
Albertsons Cos.’ Supplier Diversity Program applies to the
following groups 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
- Lesbian, Gay, Bisexual & Transgender
- Native American
- Service-Disabled Veteran
- Female
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. In 2020, along
with the Albertsons Companies Foundation, the Company gave $260
million in food and financial support, including $95 million
through our Nourishing Neighbors Program to ensure those living in
our communities have enough to eat. Albertsons Companies also
pledged $5 million to organizations supporting social justice.
These efforts have helped millions of people in the areas of hunger
relief, education, cancer research and treatment, social justice
and programs for people with disabilities and veterans'
outreach.
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version on businesswire.com: https://www.businesswire.com/news/home/20210602005717/en/
Kirby Nardo, Albertsons Cos. Kirby.nardo@albertsons.com
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