Acme Parent Company Buys Safeway for $9 Billion

Acme Markets’ corporate parent, the Albertsons grocery-store chain, on Thursday purchased Safeway Inc., for about $9 billion.

Albertsons is controlled by an investor group led by Cerberus, a New York-based private-equity firm. Other investors included Philadelphia-based Lubert-Adler Partners, Kimco Realty Corp., Klaff Realty L.P., and Schottenstein Real Estate Group.

With the purchase of Safeway, the group will now control about 2,400 grocery stores, making it one of the largest chains in the country.

Read more at http://www.philly.com/philly/business/20140307_Acme_parent_company_buys_Albertsons_for__9B.html#yfZ07Jksrr6jsbWd.99

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Will Buyers Keep, Sell Or Shut Your Acme?

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.

Read more: http://www.philly.com/philly/blogs/inq-phillydeals/Acme-Markets-sold.html#ixzz2Hdg8wx9g
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