Deals
Cerberus Group to Buy Supervalu Chains in $3.3 Billion Deal
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A Cerberus Capital Management LP-led investor group agreed to acquire Supervalu Inc.’s Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market grocery stores in a transaction valued at about $3.3 billion.
Cerberus also will lead a group to conduct a tender offer to buy as much as 30 percent of Supervalu’s common stock for $4 a share in cash, the companies said today in a statement. After the transactions are completed, Sam Duncan, the former chairman and chief executive officer of OfficeMax Inc., will become CEO of Supervalu, replacing Wayne Sales, the companies said.