High: 85º Low: 55º
High: 86º Low: 59º
High; 77º Low: 60º
Boise, Idaho (KMVT-TV / KTWT-TV) Albertsons parent company, Supervalu Inc., is reporting that it has reached a deal to sell five of its biggest grocery chains. Those stores are Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market. The selling price: $100 million in cash and more than $3 billion in Debt.
The sale to AB Acquisition, will include 877 stores. AB Acquisition is a investor group led by a private-equity firm Cerbeus Capital Management. Cerbeus will also offer to buy up to 30-percent of the remaining Supervalu for $4 per share after the deal closes.
When the deal closes, Supervalu will consist of a food wholesaler, Save-A-lot along with regional chains, Cub, Farm Fresh, Shoppers, Shop ‘n Save and Hornbacher’s.