Albertsons buys Vons owner Safeway for $9.2 billion

BURBANK, Calif. (KABC) -- Grocery shoppers in Southern California may soon see a big change as two big names are set to merge.

Ninety-six percent of the shareholders in Safeway, which operates Vons, approved the $9.2 billion sale to Albertsons Friday.

The move makes Albertsons the nation's second largest grocery chain behind Kroger, which operates Ralphs in California.

Some customers fear the lack of competition will drive up prices.

"It's getting that way everywhere. Our cable, we have one choice. Our banks are getting limited so now even our food, kind of disappointing. I'll probably go to Trader Joes from now on," Teresa Myatt of Burbank said.

Albertsons takeover of Safeway comes after the company closed 11 stores in Southern California. Many wonder if more stores will close since there are 279 Vons and 181 Albertsons stores in Southern California.

Albertsons has not indicated what store names will change, if any. The deal will create a network of 2,000-plus stores, 27 distribution warehouses and more than 250,000 employees across western states.

Analysts say even combined the company will still face steep competition from big box stores like Walmart and Target and specialty grocery stores like Whole Foods and Trader Joe's.

The deal must still be approved by the Federal Trade Commission. Analysts expect that to happen sometime this fall.

CNS contributed to this report.