Supervalue to sell Albertsons, 4 more grocery chains
On Jan 10, 10:29*am, Janet Bostwick > wrote:
> Associated Press
>
> KTVB.COM
>
> Posted on January 10, 2013 at 10:03 AM
>
> *Updated today at 10:09 AM
>
> NEW YORK — Supervalu Inc. says it reached a deal to sell five of its
> biggest grocery chains — Albertsons, Acme, Jewel-Osco, Shaw’s and Star
> Market — for $100 million in cash and more than $3 billion in debt.
>
..
> Following the closing of the deal, Supervalu will consist of a food
> wholesaler, Save-A-Lot, and regional chains Cub, Farm Fresh, Shoppers,
> Shop ‘n Save and Hornbacher’s. The company, based in Eden Prairie,
> Minn., is expected to generate annual revenue of more than $17
> billion, down from $35 billion. Supervalu said it will continue to
> work on cutting costs and fixing its business.
>
> Supervalu said grocery retail veteran Sam Duncan will replace Sales
> after the deal closes.
>
> Its shares were up 15 percent at $3.51.
So Supervalu is keeping their local-to-them stores, and divesting
their far-flung stores.
I don't know if SoCal can support a mainstream chain like Albertson's
alongside Ralph's and Von's. I prefer Stater Bros. to all of them
where one exists.
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