Bloomberg: Supervalu reportedly seeking bid for entire business
MINNEAPOLIS — As several suitors eye individual parts of the Supervalu business, Bloomberg reported that Supervalu is seeking buyers to bid for the entire business.
The news sparked a rise in Supervalu shares on Friday. As of press time, shares of Supervalu were up more than 9% to $2.32.
A representative for Supervalu had declined to comment, but people with knowledge of the matter told Bloomberg that the company is looking to find one purchaser for its 11 regional grocery chains that operate under such banners as Jewel-Osco, Shoppers, Albertsons and Acme. Supervalu operates more than 800 in-store pharmacies, primarily under the Osco, Sav-on and local banner names.
However, many speculate that selling Supervalu as a whole will be very difficult, Bloomberg reported.
Bloomberg reported that Cerberus Capital Management is eyeing a possible deal involving the Albertsons division. Meanwhile, Ahold NV is reportedly interested in the Shoppers unit.
As reported by Drug Store News in July, Supervalu has hired Goldman Sachs and Greenhill & Co. to find a buyer.
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