Ailing Acme Markets, one of the Philadelphia area’s largest employers with more than 13,000 local workers at more than 100 supermarkets, will be taken over by a group of private equity firms and real estate investors, its owners said this morning.
Supervalu Inc. “announced today a definitive agreement under which it will sell its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores and related Osco and Sav-on in-store pharmacies” for $100 million in cash plus the assumption of $3.2 billion in debt. The sellers hope to close the sale later this winter. The deal covers 877 stores including the Acmes.
Buyers are a group led by former Chrysler owner Cerberus Capital Management LP and including Kimco Realty Corporation, Klaff Realty LP, Philadelphia-based Lubert-Adler Partners and Schottenstein Real Estate Group.