Grocery retailer Albertsons has announced that its board of directors is exploring strategic alternatives to increase shareholder value, including a possible sale of the company.

Albertsons said there can be no assurance that any transaction will occur or, if one is undertaken, its terms or timing. The company has retained Goldman Sachs & Co. and the Blackstone Group, as its financial advisors to assist in this process.

The company also said that it did not expect to disclose developments with respect to the exploration of strategic alternatives unless and until its board of directors has approved a definitive transaction.