NEW YORK CITY-A consortium of investment entities led by Cerburus Capital Management is planning to buy five chains from SuperValu. The purchase price is $3.3 billion.
The sale will shift ownership for Albertsons, Acme, Jewel-Osco, Shaw's and Star Market stores and related Osco and Sav-on in-store pharmacies, according to a company statement. The consortium is comprised of Kimco Realty Corp., Klaff Realty LP, Lubert-Adler Partners and Schottenstein Real Estate Group.
A management shift is expect to come on the heels of the closing. Sam Duncan will become president and CEO of SuperValu, replacing Wayne Sales, who is also chairman. In addition, five current SuperValu directors will resign.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
