Here’s a quiz: Name the biggest company based in Idaho.
Micron, you say? Good guess, but wrong. St. Luke’s Health System? A big employer, to be sure, but St. Luke’s is a nonprofit without owners, not a company.
The answer is Albertsons. With $59 billion in revenue (according to a recent public company document filed with the U.S. Securities and Exchange Commission) and 280,000 employees across the nation, Albertsons dwarfs mighty Micron ($12.4 billion, 30,000 workers worldwide) and ever-growing St. Luke’s (about $2 billion, 14,000 workers statewide).
And it is privately held. Eventually, that will change: Albertsons is watching for an opportune time to sell stock — hence the SEC filing. But last year, the business was the biggest on the Statesman’s annual list of Idaho’s top private companies: the Idaho Private 75, which this year is expanding to the Idaho Private 100.
Until three years ago, Albertsons wasn’t on the list at all. Participation is voluntary, and after the breakup of Albertsons Inc. in 2006, Albertsons LLC had no Idaho stores and no local public profile. But after the investment consortium that created Albertsons LLC bought the Idaho Albertsons stores and hundreds of others from struggling Supervalu in 2013, the company joined the list.
This year’s list will appear in a special advertising section Sunday, Oct. 30, produced by Marketing Manager Binna Jensen, with results compiled by KPMG and stories by Boise writer Dusty Parnell. The 100 companies will learn their ranks at a luncheon Oct. 26 at the Boise Centre. (I have not yet seen this year’s results, which are confidential until then.)
The keynote speakers will be Nampa business consultant Ron Price and his son, Dan, the CEO of Seattle’s Gravity Payments (of $70,000 minimum-wage fame), who will appear remotely.
The lunch will include participants in Professional Development Day. The registration deadline is Wednesday, Oct. 19. Click here to learn more or register.
David Staats: 208-377-6417, @DavidStaats. This column appears in the Oct. 19-Nov. 15, 2016, edition of the Idaho Statesman’s Business Insider magazine. Click here for the e-edition (subscription required).