Content about Cerberus Capital Management

April 29, 2013
Rite Aid CEO appointed to Supervalu board

Supervalu has appointed Rite Aid president, chairman and CEO John Standley to its board of directors, the supermarket operator said. The company also announced the appointment of Cerberus Capital Management COO and general counsel Mark Neporent.

MINNEAPOLIS — Supervalu has appointed Rite Aid president, chairman and CEO John Standley to its board of directors, the supermarket operator said.

The company also announced the appointment of Cerberus Capital Management COO and general counsel Mark Neporent.

March 27, 2013
The new Albertsons unveils executive moves

With its acquisition of five retail grocery banners from Supervalu now complete, Albertsons LLC has outlined its new executive management team.

BOISE, Idaho — With its acquisition of five retail grocery banners from Supervalu now complete, Albertsons LLC has outlined its new executive management team.

March 21, 2013
Supervalu completes deal with AB Acquisition

Supervalu announced the completion of the sale of its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores and related Osco and Sav-on in-store pharmacies to AB Acquisition LLC, an affiliate of a Cerberus Capital Management-led investor consortium, in a stock deal valued at $3.3 billion, including $100 million in cash and $3.2 billion in debt assumption.

MINNEAPOLIS — Supervalu on Thursday announced the completion of the sale of its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores and related Osco and Sav-on in-store pharmacies to AB Acquisition LLC, an affiliate of a Cerberus Capital Management-led investor consortium, in a stock deal valued at $3.3 billion, including $100 million in cash and $3.2 billion in debt assumption. 

March 20, 2013
Report: Albertsons expected to be reunited under one operator on Thursday

Supervalu’s sale of Albertsons stores to Cerberus Capital Management will reportedly close Thursday at midnight, according to a published report by StateImpact Idaho.

BOISE, Idaho — Supervalu’s sale of Albertsons stores to Cerberus Capital Management will reportedly close Thursday at midnight, according to a published report by StateImpact Idaho.

February 25, 2013
Introducing the new Albertsons

When Albertson's LLC announced last month that its parent company, AB Acquisition, an affiliate of Cerberus Capital Management, signed an agreement to acquire 877 stores from Supervalu in a deal valued at some $3.3 billion — a move that will reunite all Albertsons stores under one operator — it recast the rankings of the industry's leading pharmacy retailers.

When Albertson's LLC announced last month that its parent company, AB Acquisition, an affiliate of Cerberus Capital Management, signed an agreement to acquire 877 stores from Supervalu in a deal valued at some $3.3 billion — a move that will reunite all Albertsons stores under one operator — it recast the rankings of the industry's leading pharmacy retailers.

January 11, 2013
New Albertsons will leapfrog Supervalu on DSN's Top 50 Pharmacy Power Players

Last week in a much anticipated move, Cerberus Capital Management acquired 877 supermarkets from Supervalu for $100 million in cash and the assumption of $3.2 billion in debt. Also part of the deal, a Cerberus-led investor consortium will provide the remaining Supervalu business an influx with the purchase of up to 30% of Supervalu stock at a purchase price of $4 per share.

Following the transaction, Supervalu will be a $17 billion business comprised mostly of its distribution business, which will represent 47% of revenues, Save-A-Lot (25%) and 191 regional supermarkets (28%).

Last week in a much anticipated move, Cerberus Capital Management acquired 877 supermarkets from Supervalu for $100 million in cash and the assumption of $3.2 billion in debt.  Also part of the deal, a Cerberus-led investor consortium will provide the remaining Supervalu business an influx with the purchase of up to 30% of Supervalu stock at a purchase price of $4 per share. 

January 10, 2013
Following sale, Supervalu's remaining businesses will be 'in great shape' CEO says

The sale of 877 stores to Cerberus Capital Management will help Supervalu re-energize its remaining three businesses, current Supervalu president and CEO Wayne Sales told analysts Thursday morning.

MINNEAPOLIS — The sale of 877 stores to Cerberus Capital Management will help Supervalu re-energize its remaining three businesses, current Supervalu president and CEO Wayne Sales told analysts Thursday morning. "What this means … is the company is smaller," Sales said. "And we exit with a much smaller balance sheet to ensure liquidity going forward," he said. This sale will not be followed by any further divestitures, Sales said. "We're not shopping any other assets."

January 10, 2013
Supervalu sells 877 stores, reuniting Albertsons under one operator

In a move that will reunite all Albertsons stores under one operator, Supervalu on Thursday morning announced a definitive agreement under which it will sell 877 stores across the Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market banners and related Osco and Sav-on in-store pharmacies to AB Acquisition, an affiliate of Cerberus Capital Management, in a transaction valued at $3.3 billion.

MINNEAPOLIS — In a move that will reunite all Albertsons stores under one operator, Supervalu on Thursday morning announced a definitive agreement under which it will sell 877 stores across the Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market banners and related Osco and Sav-on in-store pharmacies to AB Acquisition, an affiliate of Cerberus Capital Management, in a transaction valued at $3.3 billion.

January 7, 2013
Cerberus close to acquiring parts of Supervalu

The breakup of Supervalu to private equity firm Cerberus Capital Management could be announced as soon as Thursday when Supervalu shares third-quarter results with analysts, according to a report in the Wall Street Journal published Friday.

NEW YORK — The breakup of Supervalu to private equity firm Cerberus Capital Management could be announced as soon as Thursday when Supervalu shares third-quarter results with analysts, according to a report in the Wall Street Journal published Friday. 

December 3, 2012
Cerberus Capital Management in negotiations for Supervalu business

Supervalu on Friday confirmed that a previously announced review of strategic alternatives is proceeding, sparking a slight run on the company's stock.

MINNEAPOLIS — Supervalu on Friday confirmed that a previously announced review of strategic alternatives is proceeding, sparking a slight run on the company's stock. As of early Monday afternoon, Supervalu was trading at $2.53 per share, up 6.3%. 

"The company continues to be in active discussion with several parties," Supervalu stated. 

The Wall Street Journal on Sunday reported that Cerberus Capital Management and Supervalu had been negotiating a potential acquisition deal through the weekend.

October 25, 2012
WSJ report: Investment firms, industry suitors circling Supervalu

The jewel in the Supervalu crown — Save-A-Lot — may be up for bid by investment firm KKR, according to a Wall Street Journal blog published Thursday.

NEW YORK — The jewel in the Supervalu crown — Save-A-Lot — may be up for bid by investment firm KKR, according to a Wall Street Journal blog post published Thursday. 

Also in the hunt is Cerberus Capital Management, which is weighing a bid for all of Supervalu, WSJ reported, citing persons familiar with the matter. However, Cerberus may also look at bidding for only pieces of the grocer. 

Reportedly in the bid for the wholesale end of Supervalu's business is C&S Wholesale Grocers.   

October 23, 2012
Reports: Cerberus reportedly seeking financing for Supervalu deal

Cerberus Capital Management, which owns Albertsons LLC, may be looking to reunite the stores as it has reportedly emerged as a possible suitor to acquire all or part of Supervalu, according to published reports.

NEW YORK — Cerberus Capital Management, which owns Albertsons LLC, may be looking to reunite the stores as it has reportedly emerged as a possible suitor to acquire all or part of Supervalu, according to published reports. 

Cerberus is reportedly seeking $4 billion to $5 billion in debt financing from banks and is looking at investing equity of $800 million to $900 million, a person familiar with the matter reportedly said, although the source cautioned that the figures could change, according to reports.