US retailer Supervalu Inc is reportedly moving toward a deal to sell two of its retail chains, Albertsons and Save-a-Lot, to private-equity group Cerberus Capital Management.
Last week, Supervalu confirmed it was in “active discussion with several parties” over potential disposals. The move follows a strategic review of the retailer’s operations.
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The group reiterated today (6 December) there is “no assurance” the ongoing negotiations “will result in any transaction or any change in the company’s overall structure or its business model”.
A spokesperson for supermarket operator told just-food Supervalu has “nothing additional to add” at this stage.
Supervalu purchased the Albertsons chain of stores in 2006. At this time, Cerberus was part of a consortium of investors that purchased 600 Albertsons stores not taken on by Supervalu. The private-equity group still owns 200 of these locations.
While Cerberus is tipped as the front-runner for Save-a-Lot and Albertsons, US reports have also linked investment vehicle KKR to a bid for the discount chain.
Cerberus had purportedly made a move for the entire Supervalu business, but failed to find financing at attractive enough terms.
Cerberus was unavailable for comment at time of press.
