Both Albertsons and Supervalu issued cryptic press releases on the matter. Albertsons executives say they have "received an offer for the purchase of the entire company," without revealing the suitor or proposed purchase price. Supervalu says it and "a consortium of investors" are in talks to acquire Albertsons, with no further details.
Earlier speculation had New Hyde Park, NY-based retail REIT Kimco Realty Corp. and Cerberus Capital Management of New York City teaming with Supervalu to acquire the 2,500-unit Albertsons. Additionally, drugstore chain CVS Corp. was said to be in talks to buy Alberssons' 700 drugstores.
Albertsons has faced competition from other grocers and discounters like Wal-Mart. Analysts have said the company faces particular trouble in the Dallas, Denver and Florida markets. During the company's latest quarter, which ended Nov. 3, the grocer's earnings fell from the same year-ago period to $81 million from $114 million. Year-over-year same-store sales were also down, falling 0.4%.
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