The transaction will consist of Albertson’s acquisition of the stock of New Albertsons, a wholly-owned subsidiary of Supervalu, for $100 million in cash plus the assumption of approximately $3.2bn in debt.
Bob Miller, CEO of Albertson’s, said: “We are very excited about the opportunity to acquire Acme, Albertsons, Jewel-Osco, and Shaw’s and Star Market. We see great potential to improve operations, drive new energy and create a ‘winning attitude’ with our store-level associates, and earn back our customers’ trust and business.”
Source: Albertson’s
© FoodBev Media Ltd 2024