The company that owns Osco Drug Stores and Albertson’s grocery stores is announcing major cutbacks. Idaho-based Albertson’s owns the rapidly expanding Osco chain — with 27 Osco drug stores in Iowa. The company also owns the Albertson’s, Jewel, Sav-On, Acme Market, Max Foods and Seessel’s chains. One-hundred-65 stores will be closed, over ALL the company’s divisions. Albertson’s owns over 25-hundred stores in 36 states and is the country’s second-largest food and drug retailer. There are three Albertson’s grocery stores and a Jewel drug store in Iowa in addition to the 27 Osco stores. No word yet on whether any of those Iowa stores will be closed. A company spokeswoman says the store shut downs will happen over the next 12 months.