Supervalu Agrees to $3.3B Deal to Sell Off Five Store Brands
There is no word yet on how Eden Prairie jobs will be affected. The Hopkins warehouse will continue operations as usual.
Supervalu has reached a definitive agreement to sell off stores under five brands and two related in-store pharmacy brands as part of a $3.3 billion agreement that will also bring in former OfficeMax head Sam Duncan as the new Supervalu CEO and president, the company announced Thursday. “I am excited by the opportunity to lead Supervalu,” a news release quoted Duncan. “The company has very solid market positions and I see great potential in our ability to successfully build on each of these three core businesses.” AB Acquisition, an affiliate of a Cerberus Capital Management L.P.-led investor consortium, will acquire Supervalu stores under the following brands: It will also acquire related Osco and Sav-on in-store pharmacies. That will …
