América Retail | Homepage
Saturday, April 29, 2017

La primera comunidad del retail en Latinoamérica

USA: Supervalu to sell Save-A-Lot for $1.4 billion

USA: Supervalu to sell Save-A-Lot for $1.4 billion

Octubre 17, 2016

👤Periodista: María Alejandra Lopez 🕔17.Oct 2016

 

Minneapolis-based grocery chain Supervalu said Monday that it had reached a deal to sell grocery discount chain Save-A-Lot to a private equity investor.

Onex Corp. agreed to pay $1.4 billion in cash for Save-A-Lot, which owns 472 stores and licenses naming rights and supplies another 896 locations.

Also Read: Aldi moves into suburbs seeking consumers with cash 

Supervalu, which has 3,342 stores, including the Save-A-Lot locations, said it would use the cash from the transaction to pay down debt.

The company in January had signaled plans to possibly spin off Save-A-Lot into a separate publicly traded company.

“Today’s announcement is the result of a thorough process to maximize the value of the Save-A-Lot business and best position Supervalu for future success,” Supervalu non-executive chairman Jerry Storch said in a statement.

Supervalu shares (SVU) rose 8.2% in pre-market trading to $5.42.

Also Read: Costco inyecta 77 millones a su filial española 

Onex Corp. signed a five-year deal for professional services from Supervalu, such as cloud computing, payroll and finance.

Save-A-lot is a “hard-discount” retailer ranging in size from 15,000 square feet to 20,000. Its products include certain national brands and store-only brands, including meats and produce.

Source: USA TODAY

Articulos relacionados

Canada: Sears Canada eyes groceries and dash buttons amid transformation

Canada: Sears Canada eyes groceries and dash buttons amid transformation

Abril 28, 2017

  Sears Canada Inc. is looking to expand its plan to sell organic groceries and build

USA: Google’s newest tool could save your time and money shopping online

USA: Google’s newest tool could save your time and money shopping online

Abril 28, 2017

  I wouldn't say I'm addicted, but I'm definitely not a casual online shopper. Thanks to years

USA: Amazon is getting more fashionable

USA: Amazon is getting more fashionable

Abril 28, 2017

  Amazon is gaining ground in the battle over clothing, according to new research by Morgan

España: Mercadona a llega su máximo histórico de cuota en el mercado

España: Mercadona a llega su máximo histórico de cuota en el mercado

Abril 28, 2017

Mercadona, el grupo de distribución propiedad de la familia Roig, sigue batiendo récords. La empresa

USA: ¡Ahora los pasillos de Target son pistas de Mario Kart!

USA: ¡Ahora los pasillos de Target son pistas de Mario Kart!

Abril 28, 2017

  “3, 2, 1… GO!” ¡Y a correr por la sección de cereales buscando estrellas de

Últimas Noticias

Newsletter

SECTIONS

América Retail