Consortium to buy Albertsons, Jewel-Osco and others from Supervalu

by Staff
Share This:
Search for similar articles by keyword: [Retail]
MINNEAPOLIS — Supervalu Inc. has entered into a definitive agreement to sell its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores and related in-store pharmacies to AB Acquisition L.L.C., an affiliate of a Cerberus Capital Management L.P.-led consortium, in a transaction valued at $3.3 billion. The sale includes 877 stores and the acquisition of stock from New Albertsons, Inc., a subsidiary of Supervalu, for $100 million in cash, plus $3.2 billion in debt that will be retained by New Albertsons.

Following the acquisition, Albertson’s and its subsidiaries will consist of 1,069 stores and 12 distribution centers, and employ approximately 110,000. Supervalu will consist of the Independent Business, a food wholesaler with 1,950 stores; Save-A-Lot, a discount grocery chain with approximately 1,300 stores; and regional retail food banners Cub, Farm Fresh, Shoppers, Shop ‘n Save and Hornbacher’s.

There also will be a leadership change at Supervalu. Sam Duncan will replace Wayne Sales as Supervalu’s president and chief executive officer.
Comment on this Article
We welcome your thoughtful comments. Please comply with our Community rules.



The views expressed in the comments section of Food Business News do not reflect those of Food Business News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.