Supervalu completes sale of Albertson's, other stores

Sale of its Albertsons, Acme, Jewel-Osco, Shaw's and Star Market stores to AB Acquisition LLC valued at $3.3B.

Supervalu Inc. has announced that it has completed the sale of its Albertsons, Acme, Jewel-Osco, Shaw's and Star Market stores to AB Acquisition LLC, an affiliate of Cerberus Capital Management L.P., in a deal valued at $3.3 billion.

Supervalu said the banners would be transferred to AB March 21 and said the company would emerge March 22 as a more efficient food wholesale and retail company, distributing food products to retailers in 43 states and operating five, regional retail companies, including Cub and Save-A-Lot.

Supervalu announced last summer that it was pursuing a strategic review that could include selling some grocery companies (Feedstuffs, July 23, 2012) and reported the AB deal earlier this year (Feedstuffs, Jan. 14).

The restructured Supervalu, headquartered in Eden Prairie, Minn., and previously the fifth-largest supermarket system in the U.S. with $37.5 billion in sales, will have sales totaling $17 billion.

 

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