Hortencia shared on Faceboook this morning that Cerberus has reached an agreement with Supervalu to purchase a good chunk of Supervalu’s stores, including Jewel-Osco, Albertsons, Acme, and Shaws. Read more:
- Supervalu to sell Jewel-Osco, other chains to Cerberus Group (Chicago Tribune).
- Cerberus-Led Group agrees to acquire Supervalu Chains (Bloomberg).
It’ll be interesting to see what happens from here!
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HA! I win! I predicted this when Cerberus divested itself of its weapons holdings and needed something less lethal – food stores are much better PR.
Dare I hope the new owner will hire people better grammar? **cough**Essential Everyday**cough
Another interesting article. This one speculates what will happen next.
http://www.chicagobusiness.com/article/20130110/NEWS07/130119977/jewel-osco-may-have-short-shelf-life-as-part-of-cerberus
It would be awesome if Kroger bought Jewel!!
Well, we can kiss any good deals at Jewel goodby. they already are NOT great but this buyer is a venture capitalist group.
They buy decent companies w/issues & run them into the ground on an anything foir profit basis and then pull all the cash out. I give it no more than 3 years.