Saturday, July 26, 2014





Supervalu to sell 5 supermarket chains to Cerberus


February 20. 2013 1:32AM
Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle


(AP) Supervalu Inc. says it reached a deal to sell five of its biggest grocery chains Albertsons, Acme, Jewel-Osco, Shaw's and Star Market for $100 million in cash plus more than $3 billion in debt.


The sale to AB Acquisition, an investor group led by Cerberus Capital Management, will include 877 stores.


The group will acquire the stores for $100 million in cash, and the new company will assume $3.2 billion in existing debt.


Following the sale, Supervalu will consist of a food wholesaler, Save-A-Lot, and regional chains Cub, Farm Fresh, Shoppers, Shop 'n Save and Hornbacher's.


Supervalu said grocery retail veteran Sam Duncan will replace CEO and Chairman Wayne Sales after the sale.


Associated Press


Comments
comments powered by Disqus Commenting Guidelines
Poll
Mortgage Minute


Search for New & Used Cars

Make 
Model
 
Used New All
 

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals



Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds