US: Supervalu "could break-up if sold to Cerberus"
The retailer did not reveal who it was in talks with
A sale of Supervalu to private-equity firm Cerberus Capital Management could lead to a break-up of the US retailer, sources have told Reuters.
Buyout firm Cerberus is reported to be preparing a takeover bid for Supervalu, with an eye toward divesting the company's assets to several parties, Reuters reported this week.
Cerberus could not be reached for comment when contacted by just-food. Supervalu confirmed it has received interest and is in talks with a number of potential bidders for the group but did not comment on the identity of the interested parties.
A spokesperson for Supervalu said: "The company's previously announced review of strategic alternatives is proceeding. The company has received a number of indications of interest and is in active dialogue with several parties. There can be no assurance that this process will result in any transaction or any change in the company's overall structure or its business model."
Last week, the company insisted that it is accelerating the progress that it is making on its turnaround plan.
The company has been dogged by falling sales and profitability for its last three full financial years and confirmed the trend was continuing when it booked accelerating second-quarter losses last week.
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