Klaff Realty, together with JV partners, acquires Chicago Cub Foods stores from SuperValu
NEW YORK, NEW YORK – Twenty six Cub Foods Stores have been acquired from SUPERVALU INC. (NYSE: SVU) by an investment group led by Cerberus Capital Management, L.P.
As part of SuperValu’s acquisition of New Albertsons, including its Chicago-based Jewel-Osco stores, SuperValu divested its Chicago-area Cub Foods locations to an investment group headed by Cerberus Capital Management, to avoid market concentration issues. The investment group includes Kimco Realty Corporation (NYSE: KIM), Schottenstein Stores Corp., Lubert-Adler Partners and Klaff Realty, LP.
Cub Foods, is a discount-food-retailing name in the market for more than 20 years, and employs roughly 1,800 people.