SUPERVALU (SVU) Reports In-Line Q2 EPS; Retail Comps Fell 5.9%
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Onex to Acquire Save-A-Lot from SUPERVALU (SVU) for $1.365B
October 17, 2016 6:47 AM EDTOnex (OCX: T) has agreed to acquire the Save-A-Lot business from SUPERVALU INC. (NYSE: SVU) for $1.365 billion. Save-A-Lot is one of the largest hard-discount grocery retailers for value-seeking shoppers in the United States. The transaction is anticipated to close by January 31, 2017 subject to customary conditions and regulatory approvals.
Headquartered in St. Louis, Save-A-Lot has a network of approximately 1,370 corporate-owned and licensed stores across 37 states, the... More
SUPERVALU (SVU) to Sell Save-A-Lot Unit in ~$1.37B Deal
October 17, 2016 6:47 AM EDTSUPERVALU INC. (NYSE: SVU) announced that it has entered into a definitive agreement whereby an affiliate of Onex Corporation will acquire SUPERVALUs Save-A-Lot business for $1.365 billion in cash, subject to customary closing adjustments. In connection with the sale, SUPERVALU and Save-A-Lot will enter into a five-year professional services agreement. The sale of Save-A-Lot is expected to be completed by January 31, 2017, subject to regulatory approvals and other customary closing conditions.
Todays announcement is the result of a thorough process to maximize the value of the Save-A-Lot... More
