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NEW YORK, PRNewswire — A consortium consisting of SUPERVALU INC. (NYSE: SVU), CVS Corporation (NYSE: CVS), and an investment group led by Cerberus Capital Management, L.P., has agreed to acquire Albertsons, Inc (NYSE: ABS) in transactions valued at $17.4 billion in the aggregate. The Cerberus-led investment group includes Kimco Realty Corporation (NYSE: KIM), Schottenstein Stores Corp., Lubert-Adler Partners and Klaff Realty, LP. The Cerberus-led group is to acquire all Albertsons stores in Dallas/Ft. Worth, Northern California, Florida, the Rocky Mountains and the Southwest. The stores have in excess of $10 billion in sales revenue. The group plans to operate the stores under the Albertsons name on an ongoing basis.
Albertsons is one of the world's largest food and drug retailers, with annual revenues of approximately $38 billion. Based in Boise, Idaho, the Company employs more than 200,000 employees and operates approximately 2,300 retail stores in 31 states across the United States, under banners including Albertsons, Jewel-Osco, Acme, Albertsons-Osco, Albertsons-Sav-on, Sav-on Drugs, Osco Drug, Max Foods and Super Saver.
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