Divestitures Announced, Albertsons Looks To Complete Safeway Purchase In January
Just before presstime, Albertsons (AB Acquisition LLC) announced that it has entered into agreements to sell 168 stores to four separate buyers pending Federal Trade Commission approval, as part of the process to acquire Safeway stores. Safeway shareholders approved the proposed agreement on July 25.
None of the stores to be divested are east of the Mississippi and, with this announcement, the Albertsons purchase is expected to close next month.
The four buyers are: Associated Food Stores (AFS), which will purchase eight stores in Montana and Wyoming; Associated Wholesale Grocers (AWG)/Minyards, which will acquire 12 stores in Texas; Supervalu, which will buy two stores in Washington state; and Haggen (controlled by private equity firm Comvest), has agreed to buy146 stores in Arizona, Nevada, California, Oregon and Washington.
Of the divested stores that were announced, 111 of those units carried the Albertsons banner and 57 supermarkets operated as Safeway units or its subsidiaries – Vons and Tom Thumb.
Under the terms of the purchase agreements, the buyers will acquire the stores, equipment and inventory, and they intend to hire most, if not all, of the store employees upon the closing of the purchase of the stores.
“We’re pleased to have found strong buyers for these stores and to have completed this important step toward combining Albertsons and Safeway,” said Safeway president and CEO Robert Edwards, who will also hold those titles once the companies are combined. “We look forward now to the transaction’s close, so we can begin working together to enhance the loyalty of grocery shoppers by delivering high quality products, great service and lower prices to become the favorite local supermarket in every neighborhood we serve.”
Since the deal was announced last March, Albertsons has subsequently announced a new management team which will be headed by Albertsons’ Bob Miller as executive chairman and Edwards as chief executive and president.
Other key executives named to the new team are: Shane Sampson, executive VP-marketing and merchandising; Bob Gordon, executive VP and general counsel; Andy Scoggin, executive VP and president of human resources, labor relations, public affairs and government affairs; Jerry Tidwell, executive VP if supply chain and manufacturing; Lee Wilson, executive VP and chief administrative officer; Bob Dimond, executive VP and CFO; Justin Ewing, executive VP of corporate development and real estate; Barry Libenson, interim executive VP and chief information officer (Libenson is expected to be with the new company through March 2015, at which time a successor will be named); Justin Dye, executive VP and chief operating officer for the east region; Wayne Denningham, executive VP and chief operating officer for the south region; and Kelly Griffith, executive VP president and chief operating officer for the north region.
The new company will be comprised of three regions and 14 retail divisions. The company will keep the focus and financial responsibility at the division level, but take full advantage of the expertise, vision and core capabilities of the corporate team. The 14 divisions will be supported by corporate offices in Boise, ID, Pleasanton, CA and Phoenix, AZ. No banner changes are planned.
The division presidents for the new company, who will report to the chief operating officer for their respective regions, will be: Jim Perkins, Acme division, east region; Steve Burnham, eastern division, east region; Jim Rice, Shaw’s division, east region; Mike Withers, Jewel-Osco division, east region; Dennis Bassler, Portland division, north region; Paul McTavish, Denver division, north region; Susan Morris, Intermountain division, north region; Tom Schwilke, northern California division, north region; Dan Valenzuela, Seattle division, north region; Shane Dorcheus, southwest division, south region; Scott Hayes, southern division, south region; Sidney Hopper, Houston division, south region; Lori Raya, southern California division, south region; and Robert Taylor, United division, south region.
“We know the best way to grow our business is to have the highest quality fresh departments, lower prices, clean, well-stocked stores and the best customer service in the market,” said Miller. “Our teams will focus on delivering what customers want locally, and we will give our store teams more flexibility to make decisions that are right for their neighborhoods. The division teams will have the responsibility to have the right assortment for their markets.”
“We’re drawing on the strong talent within both companies to build an innovative, customer-focused and growth-driven company,” said Edwards. “We are confident in this team’s ability to build a great company that’s positioned to win over the long term by earning the loyalty of grocery shoppers in every market we serve and delivering superior operational and financial results.”
Regionally, Safeway’s eastern division, which New Albertsons Inc. (another unit of A/B Acquisition and Cerberus) acquired from Albertsons LLC (another subsidiary of the parent firm) for $659 million in June, has already begun preliminary plans to become a more decentralized division The new firm plans to staff up at its 125 store Lanham, MD-based unit by adding category managers to make more relevant and timely local decisions. Sources told us that the new eastern division will ultimately resemble the Acme or Shaw’s model, featuring more aggressive merchandising, “hot” advertising specials and lower everyday prices.
Here’s a recap of the total deal:
* Cerberus will pay approximately $9.2 billion ($40.10 per share) to acquire Safeway Stores. At presstime on December 19, Safeway closed at $34.76 per share.
* The breakdown of the deal includes: $32.50 per share in cash; $3.65 per share of the estimated after-tax net proceeds from sales of primary non-core Safeway assets – Property Development Centers (its shopping centers unit) and Casa Ley (the Mexican supermarket chain of which Safeway holds a 49 percent stake). Shareholders will receive either a cash payout by closing or through Contingent Value Rights post-closing; and $3.95 per share which is the estimated value of its 37.8 million shares of Blackhawk, Safeway’s gift card business (which launched an IPO about 20 months ago).
* AB Acquisition plans to fund the deal in part with debt financing of approximately $7.6 billion, equity contributions from its current investors and their affiliates, partners and co-investors of approximately $1.25 billion, and cash on hand of Safeway.
* The newly combined organization promises lower prices, better local assortment, an improved shopping experience and a stronger management team.
* The newly expanded company (including the just released divestitures) would operate 2,242 stores (994 Albertsons, Acme, Jewel and Shaw’s units and 1,278 Safeway, Vons and Tom Thumb supermarkets) in 34 states and WashingtonDC. Additionally, it would employ 250,000 associates, operate 27 distribution centers and 20 manufacturing plants and operate under the following banners: Safeway, Vons, Pavilions, Randall’s, Tom Thumb, Carrs, Albertsons, Acme, Jewel-Osco, Lucky, Shaw’s, Star Market, Super Saver, United Supermarkets, Market Street and Amigos.
Kroger Continues To Kick Butt, Take Names
It truly has been a remarkable run. Not since late 2003 has Kroger posted negative identical store sales. What’s even more impressive than just the number itself is the manner in which the nation’s largest supermarket chain continues to execute at a level unachievable by any other traditional competitor, while continuing to place great faith in its people, programs and training.
While Kroger was one of the first food retailers to seek a centralized model more than a decade ago, it was also one of the first (and the best) at tweaking that model by empowering local managers to make critical decisions.
Kroger has also worked hard to find the right blend to make its customers’ shopping experiences considerably more pleasant than most traditional supermarket retailers. In addition to a creative item mix, Kroger hasn’t seen fit to reduce labor in its stores; its training program ranks among the best in all of retail food and it doesn’t try to shove private label product down customers’ throats (Kroger’s percent of own brand sales last quarter was about 26 percent, a very modest total).
The Cincinnati-based merchant has been consistent in its cap-ex spending over the past five years (about $2.9 billion this year for its more than 2,600 stores) and has been aggressive in expanding its real estate pipeline. It is also one of the few strategic thinking operators still in the acquisition game, having purchased Harris Teeter earlier this year and stating that it would like to make at least one more large acquisition in the near future.
Management has remained steady over its great run, first with the great Dave Dillon, who stepped down as CEO at the end of last year after an 11 year run (and who will retire as chairman of the board at the end of this year), handing the leadership reins over to another Kroger veteran Rodney McMullen at the beginning of 2014. The leadership change has been seamless. (McMullen will also assume the chairman’s role on January 1.)
Kroger has also benefited from its ability to be flexible, operating various formats from c-stores (Turkey Hill, Quik Stop, etc.) to jewelry stores (Fred Meyer, Littman’s), but its bread and butter remains grocery stores, where no attempt has been made to integrate banners, allowing the familiarity and strength of its regional chains (Fry’s, Ralph’s, Smith’s, Kings Soopers, etc.) to maintain their local identity.
Even at its newest acquisition, Harris Teeter, several key HT executives have noted that Kroger has made no attempt to change any major facet of store operations or merchandising.
“They promised they weren’t interested in radically altering a model that clearly was working, and after nearly a year, they’ve lived up to that promise,” said a senior executive at the Matthews, NC based operator. “In fact, they’ve sought our assistance in many areas where they thought our learnings and input would help the overall enterprise. These are good people who also happen to be very intelligent and have a high degree of supermarket smarts.”
Unlike many supermarket chains and some mass merchants that have proven they cannot change stripes and effectively create or manage multiple formats, Kroger not only already operates in several channels, it has taken its traditional supermarket model and expanded in into its larger Marketplace format.
Marketplace is on the verge of becoming a beast as Kroger continues to aggressively grow that combination store banner. It may not have quite the pricing edge of a Wal-MartSuperCenter, but it far outperforms the Bentonville Behemoth in terms of in-stock conditions, store cleanliness, in-store labor and training.
You have to look no further than the Richmond, VA market where Kroger currently ranks fourth with 18 stores and an ACV market share of approximately 13 percent. Three years ago, Kroger’s share was just under 11 percent with 16 units. In that period of time, Kroger opened its first two Marketplaces in the capital of the Old Dominion and has two more planned (one is a conversion from a traditional Kroger) and will also build a 90,000 square foot conventional Kroger supermarket. The Richmond market is already overstored and, with the current Kroger/Marketplace expansion underway as well new entries Aldi, Neighborhood Markets, Wegmans and another Whole Foods also coming, I’d say current market leaders Martin’s (Ahold USA) and Food Lion are in serious trouble. I also expect Kroger to gain market share despite the additional competition.
To this reporter, the shopping experience at Kroger isn’t as eye-popping as visiting a Wegmans, it isn’t as exciting as a trip to Whole Foods, nor does it have the “treasure hunt” vibe of a Costco.
Kroger’s secret is in its functionality: well-stocked, clean, priced right, creatively merchandised, very good customer service and a level of consistency that rings as true in Salem, VA and Salem, OR.
Remember when that was the norm in the supermarket industry?
‘Round The Trade
Marc Perrone was elected the new president of the United Food and Commercial Workers International earlier this month. Perrone replaces Joe Hansen, who retired from the large labor organization after 10 years of leadership. Perrone was the UFCW’s secretary-treasurer for the past decade and will be succeeded in that post by Pat O’Neill. “The ideas to build a stronger union do not lie within any one individual,” said Perrone. “They lie within all of us. They lie in the collective wisdom and strength of 1.3 million UFCW members who work hard every day to support their families. I want to hear their ideas. I want to hear their vision. I want to hear what we can all do to become an even greater and stronger union for the decades ahead.” Much like Hansen, Perrone will face many challenges, including the further penetration of non-union retailers (including virtually all other non-supermarket channels) which have gained significant market share over many organized supermarkets. While potentially organizing those non-union merchants will be a tall task, making the playing field more level for current unionized merchants is almost equally important…Doug McMillon, who was named chief executive at Wal-Mart 10 months ago after spending his whole career at the Behemoth, is now fully engaged in personnel change mode. Just before presstime, the Bentonville, AR merchant promoted Judith McKenna to COO of its U.S. stores succeeding Gisel Ruiz who was named executive VP of Wal-Mart International. McKenna, who had been chief development officer for Wal-MartU.S., will report to U.S. CEO Greg Foran, who replaced Bill Simon in August. Other recent changes include moving Steve Bratspies from executive VP-general merchandise to executive VP-food. Also departing a few days before “Black Friday” was Duncan Mac Naughton, who served as Wal-Mart’s chief merchandising officer. Foran has deliberately chosen not to name a new CMO, electing to have his senior management team report directly to him because “I would like to use this opportunity to get closer to the merchandising organization.” As for Mac Naughton, all I can add is, “good riddance” to one of the biggest, most overrated blowhards I’ve ever met in my 41 years of covering the grocery industry. Just before presstime we learned that the Pennsylvania Superior Court of Appeals has upheld a ruling that the Bentonville, retailer must pay $187.6 million in back pay to associates who worked “off the clock.” Wal-Mart said it is considering an appeal to the state Supreme Court stating that associates’ claims should not have been bunched together to form a class action suit. The original suit was first filed in 2002. One more Wal-Mart take: I honestly believe that McMillon is trying hard to change the culture at the Behemoth and also its public image. To wit: along with the recent leadership team changes, McMillon recently told journalist Charlie Rose that in the next few months all Wal-Mart associates will be paid above the federal minimum wage ($7.25 per hour)…Jason Hart has been named CEO of Aldi’s U.S. stores effective April 1, 2015. Hart joined the privately-held German discount merchant in 1993. He had been one of three executives who comprised Aldi’s “office of the president” which also included co-presidents Chuck Youngstrom and David Behm, who will retain their positions. While Whole Foods and Wegmans may get the hype (and deservedly so), nobody has performed better than Aldi over the past three years. And that accelerated growth plan will continue in the next few years as the extreme value retailer plans a major southern California expansion next year and hopes to have 2,000 stores in the U.S. by 2018, about 700 more than it currently operates, which would include the 66 Bottom Dollar stores it recently acquired from Delhaize America. Aldi also announced that it has begun testing credit cards in upstate New York and Minnesota in an attempt to broaden its customer base and provide greater convenience to its current shoppers. Some might question whether the 2 percent credit card fee will impact Aldi’s bottom line (we won’t know because it’s privately-held) or whether those costs will be passed along, but the way the Aldi “express” is rolling, I can only see this as helping the overall shopping experience at the industry’s deepest discounter. About 45 stores are part of the test, and if all goes well, look for Aldi to rollout the credit card program nationally…the seemingly endless and unusual tug of war between Dollar Tree and Dollar General to acquire competitor Family Dollar continues on. Family Dollar management and its board still favor Chesapeake, VA-based Dollar Tree over larger rival Dollar General, whose offer of $9.1 billion topped Dollar Tree’s by a whopping $600 million. One of Family Dollar’s key concerns is how many stores will have to be divested after a deal is completed. Dollar General said it is prepared to close as many as 1,500 units (other sources say that the FTC could order as many as 4,000 stores to be divested) while Dollar Tree CEO Bob Sasser predicted the divestiture would be fewer than 500 stores if his firm wins the bid. Currently, Dollar Tree operates nearly 5,300 stores and Dollar General runs approximately 11,700 discount units…Crossmark, one of the “big three” of national food brokerage firms, has named Steve Schuckenbrock as its new CEO replacing Ben Fischer who will become chairman of the Plano, TX-based sales agency. Schuckenbrock most recently served as chief executive of Accretive Health and also previously held management posts at Frito-Lay and Pepsi…feel good story of the month: The U.S. Energy Department predicted that gas prices in 2015 will average about $2.60 per gallon, a 23 percent drop from this year’s average and the lowest full-year level since 2009. This is not only great news for the American consumer, but also potentially good news for food retailers, who have already told us that they have seen consumer spending levels increasing over the past two months in part because they believe that at least some of their fuel savings are being spent on groceries…potentially feel better story of the month: the family of iconic reggae singer Bob Marley plans to introduce a new brand of marijuana (ganja) products which it hopes it can capitalize on the efforts to legalize the seductive herb in the U.S. (it’s already legal in Colorado and will also become legal in Alaska next year). Privateer Holdings, a cannabis investment firm, is a partner in the venture which in late 2015 will launch “Marley’s Natural,” a line of organically grown (no fertilizer) heirloom Jamaican marijuana strains. The company also plans to offer other cannabis and hemp infused products such as sun repair creams and lotions. Bob’s son Rohan is also trading on the family name with his Marley Coffee, which was founded in 2009. As Bob might have said: “Get up, stand up (if you can).”
Local Notes
Howie Glickberg, veteran former chief executive of Fairway Market, the company founded by his grandfather in 1932 in Manhattan has retired. Most recently, Glickberg served as vice chairman of real estate. He will remain on Fairway’s board. “I’ve dedicated the past 40 years of my life to building the world’s greatest food store,” said the 67 year-old Glickberg. ““It’s been my life’s work 24 hours a day, seven days a week. In the past when I would take a little vacation, I would somehow wind up visiting a supermarket. And if I saw an apple out of place I would fix it. So I’ve never traveled anywhere without Fairway on my mind.” According to newly named Fairway CEO Jack Murphy: “Howie has been indefatigable and indispensable to Fairway’s growth over the past four decades. It was his vision to bring together the corner butcher, bakery, cheese monger, fish market, and farmer’s market all under one roof, and add in an unparalleled selection of traditional, specialty and organic groceries at the best prices. All this has brought Fairway iconic status and enabled the company to truly earn the moniker ‘Like No Other Market.’” While Glickberg led Fairway through its halcyon days before selling off a majority stake to Sterling Investment Partners in 2007, times are currently challenging for the perishables-driven retailer. Not only did the company post yet another loss ($17.2 million) in its recently completed second quarter, its stock price has tumbled to approximately $3 share (it was $28.38 in July 2013, three months after going public). New CEO Murphy was hired to stem the bleeding created by declining same store sales and less than stellar results at the company’s recently opened suburban stores in New Jersey; Nanuet, NY; and Lake Grove, NY. An excellent recent article (“Fairway Market’s Case of Overcooked Ambition” – painful reading, but dead-on) by Jan Alexander in the December 2 issue of Institutional Investor is certainly worth checking out…Dick Boer, Ahold’s CEO, said that his company is looking to grow online sales by about 80 percent over the next three years. In a presentation to analysts and investors in Utrecht, The Netherlands, the 57-year old chief executive noted the rapid shift and growth of food and general merchandise to online purchases, which he said would increase Ahold’s online sales from its current $1.7 billion to $3.1 billion by 2017. The Zaandam-based merchant will also increase its global e-commerce investment by $75 million over the next three years. As part of that initiative, Boer stated that Ahold will expand the geography of its Peapod unit (it will open a new distribution center in Indianapolis in 2015 and recently opened a new depot in Jersey City to create better efficiencies – it carries 18,000 SKUs in the new facility) and continue to broaden its offerings and variety. In the U.S., Peapod sales for 2014 should reach about $590 million, an 11 percent annual growth rate….C&S has now officially completed its acquisition of AWI and White Rose and currently plans no changes in personnel or day-to-day operations. That means Matt Saunders will be staying on as president of the recently bankrupt company. Also, several vendors have informed us that they have received “settlement” checks for outstanding invoices that were caught in the web of the Chapter 11 process. Those “creditors” said that they have received slightly more than 50 percent of the receivables they were owed…an informal survey of about 15 retailers in the Mid-Atlantic revealed that merchants were generally pleased with their Thanksgiving sales, noting slight gains from last year and significant improvements from 2010 and 2011. “We saw spending up but consumers are still exercising caution and restraint. Now that SNAP benefit reduction has cycled, we didn’t see much change in food stamp activity from a year ago when the reduction first began. I’d say we’re pretty happy with our Thanksgiving results, but it’s a new world out there – so much competition from so many channels.” That was pretty typical of the reaction we got from most retailers in our poll. And in the three weeks following Turkey Day, that positive sales momentum seems to be continuing as retailers are telling us that pre-Christmas volume has been solid.…opening its first store in the Philadelphia area (Ridley Township) later this month is Royal Farms. The Baltimore-based family-held c-store chain also has its eyes on locations in Upper Chichester, PA and Concordville, PA, smack dab in the middle of Wawa country. …Village Super Market, the second largest ShopRite member and only publicly-traded retailer in the Wakefern organization, announced significantly improved earnings and increased same store sales of 1.6 percent in its first quarter ended October 25. Net income was $3.88 million compared to a net loss of $6.83 million in the first quarter of fiscal 2014. This year’s first quarter of fiscal 2015 included a charge to write off all remaining insurance receivables related to Superstorm Sandy of $1.34 million. Excluding that item, net income increased 53 percent. Overall sales were $379.7 million, an increase of 6.4 percent. The Springfield, NJ merchant stated that revenue rose due to the opening of its Morristown, NJ replacement store in November 2013 and also its Union, NJ replacement unit in April 30, 2014. The 29-unit retailer said same store sales rose due to increased sales in both Maryland stores and increased transaction size due to inflation, partially offset by decreased units sold. The company expects same store sales in fiscal 2015 to range from flat to an increase of 2 percent. In related news, the estate of former Village CEO Perry Sumas, sold about 33 million shares of stock in several separate transactions over the past month. According to SEC records, the Sumas estate still owns 1.17 million share in the company, valued at approximately $29.6 million. At the end of the day on December 17, Village’s stock was trading at $25.48 per share…one of the industry’s best performers continued on its positive roll. Costco’s first quarter earnings jumped 16.7 percent to $496 million. Overall sales also increased 7 percent to $26.3 billion and comp revenue (excluding fuel) also rose an impressive 7 percent. On the earnings call, CFO Richard Galanti termed deli, candy and spirits as “standout” departments and noted that organic food sales are $3 billion currently (and growing quickly), more than double that of comparable sales of organics just two years ago. Costco’s e-commerce business increased 20 percent and now represents about 3 percent of total sales. One more note about the nation’s largest club store operator: when Jim Sinegal, the founder and prodigal son of the Issaquah, WA-based discounter ran the ship, he was well-known for being among the lowest paid chief executives of any publicly-traded firm in the U.S. Now his successor, Craig Jelinek, who took the reins from Sinegal in 2012, has also become a member of the “thrifty” club. According to USA Today, last year Costco earned $3.2 billion on sales of $103 billion. Its stock value has increased about 20 percent over the past year and Costco’s market cap has risen to $63 billion. Jelinek’s compensation: $5.6 million (most of that came from a stock award; his annual salary was $650,000). That’s 50 percent below the median compensation for all S&P chief executives and among the top 10 when you measure compensation with performance. A better indication of what’s generally wrong with CEO compensation can be seen when comparing Costco with Fairway Market, the New York City-based specialty merchant that went public 20 months ago after being controlled by private equity firm Sterling Investment Partners since for the previous six years. Sterling’s co-founder, Charles Santoro, remains chairman of the 15-store retailer. His booty last year was an unconscionable $5.4 million for a company that has lost nearly $27 million in the first two quarters of fiscal 2014, has a market cap of only $169 mi
llion and whose stock is languishing in $3 per share range. A tip of the hat to you, Mr. Jelinek, for doing things the right way….riding into the sunset shortly will be two “sales guys” for whom I have the highest level of respect. Nick Milano will be retiring at the end of 2014 after more than 50 years in the grocery business, the last 20 of which were at Murry’s, where he served as national sales manager. A true gentleman and a real pro, I’ll miss Nick’s dry sense of humor and enthusiasm. And if there ever was a walking encyclopedia about the frozen food business, Nick’s your man. Also packing it in on January 1 after a 38-year career in the biz is Tom Gargan, who most recently was senior VP and general manager of Acosta’s Metro NY and eastern PA customer teams. Tom began his career at Oscar Mayer and in 1984 he joined Baltimore-based brokerage Chaimson as executive VP. He remained with the company when MAI was created by the joining of three large Northeast broker firms which ultimately became part of Acosta in 1999. What you may not know about Tom is that he’s a true Philly guy, and he played quarterback for four years at Georgetown University. He’s also one of the finest golfers in the food industry and one of the best peddlers in our business. However, more than that, he’s just a good person whose positive outlook on life and his strong people skills are special. Tom and his wife Helen will be relocating to their vacation home in Delaware. Acosta veteran Stan Barasso has been named to Tom’s old post and will also continue to lead Acosta’s Wakefern team. To Nick and Tom, I wish you only the best in all your future endeavors…sadly, we have several notable obituaries to report this month. Fred “Fuzzy” Thurston, former All-Pro guard on the great Green Bay Packers teams of the early 1960s, has died at the age of 80. The Wisconsin native, who only played basketball in high school because his school did not have a football team, was drafted out of Valparaiso University in Indiana in the fifth round by the Eagles in 1956. He never played for the Iggles, having joined the U.S Army for two years. He was signed by the Baltimore Colts for the final four games of the 1958 season (just long enough to win a championship) and was traded the next year to the Packers, where he credited the legendary Vince Lombardi for shaping his football career and life. It was Thurston’s quick feet that allowed him to “pull” for running backs Paul Hornung and Jim Taylor as they executed one of the most famous plays in football lore – the “Green Bay Power Sweep.” Thurston helped the Packers win five NFL titles…from the world of music, Ian McLagan, keyboard player with The Faces and a well known side man and sessions player for Bob Dylan, The Rolling Stones, Rod Stewart and Bruce Springsteen, has passed away at the age of 69. McLagan’s jazz-oriented Hammond B-3 organ style can be heard on Stewart’s hit song “Maggie May” and the Stones’ “Miss You.” He was 69 when he suffered a stroke in Austin, TX where he resided for the past 20 years. McLagan was inducted into the Rock and Roll Hall of Fame as a member of the Faces in 2012. Also passing on is a man who knew and worked with McLagan – Bobby Keys. A legendary sax player who performed one of the best tenor solos in rock history (on The Rolling Stones’ “Brown Sugar”), Keys also played with John Lennon (another great solo on “Whatever Gets You Through The Night.”), Eric Clapton and solo albums by former Beatles George Harrison and Ringo Starr. Coincidentally, Keys was born on the same day as Rolling Stones guitarist Keith Richards – December 18, 1943…and finally, to all our readers and advertisers – may you all have a safe healthy and happy Holiday Season. See you in 2015!
