What’s Going On With Supervalu?
As per agreement, it will sell 877 stores from Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores and related Osco and Sav-on in-store pharmacies to AB Acquisition LLC.
S&P puts Supervalu on watch list for upgrade
The ratings firm said the sale, if completed, will lead to a modest decline in debt leverage for the grocer-store operator, and substantially lower its operating lease commitments and pension liabilities.
Incoming Supervalu CEO Duncan to make $1.5 million, plus extras
Supervalu’s incoming CEO Sam Duncan will receive a $500,000 signing bonus, an annual salary of $1.5 million, options for 1.5 million shares of stock and the chance to earn lucrative performance bonuses.
Supervalu Announces Layoffs After Sale of Some Assets: Business Roundup
Eden Prairie Patch
After much negotiation, Supervalu has reached a definitive agreement to sell off some of its assests to AB Acquisition, an affiliate of a Cerberus Capital Management L.P.-led investor consortium.
Supervalu distribution center in Pleasant Prairie to close
Workers at the Supervalu distribution center in Pleasant Prairie will lose their jobs over the next five months.
Save-A-Lot test market expanding to Jacksonville
Jacksonville Business Journal
In the wake of its announcement that it would sell off some of its largest grocery chains, Supervalu Inc. said it would also expand its test markets for one of its remaining banners, Save-A-Lot, to Jacksonville.