Supervalu Sale Of Albertsons Stores Expected To Close Thursday
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Albertsons store in Jackson, WY.
Boise’s hometown grocery store is expected to be back under one umbrella Thursday at midnight, according to an Albertsons LLC spokesperson. Supervalu’s sale of Albertsons stores to Cerberus Capital Management will reunite the brands that were split in 2006.
In January, Supervalu announced it was selling all Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores in a $3.3 billion deal to Cerberus, the investment firm that purchased some of the Albertsons stores in 2006.
The Idaho Statesman reported the sale includes 877 stores, 33 of which are in Idaho.
It’s unclear what changes will be made to the stores under new ownership. Last week the Idaho Business Review reported there will be layoffs as part of restructuring, but few details were given.
Minnesota-based Supervalu Inc. will restructure its presence in Boise as part of its deal to sell off grocery and retail chains, including Albertsons stores, to an investment group. The company has started to disclose these changes to some employees, but has not formally notified them of specific layoffs, a spokesman said.
“The remaining organization will require significantly fewer corporate support roles and functions, making it important for Supervalu to restructure its operations and expenses accordingly,” spokesman Mike Siemienas said March 12.
“For those whose positions are being eliminated their formal notification period will not begin until after the close of the transaction.” The deal is expected to close the week of March 18.
Siemienas declined to say how many workers will lose their jobs or which departments will be cut. He confirmed that Supervalu will continue to have a presence in Boise once the transaction closes. – Idaho Business Review
The Cerberus-owned Albertsons LLC manages 190 Albertsons Market stores and two Super Saver Food Stores, according to The Idaho Statesman. Those stores are spread across eight states. Today, the company has about 20,000 employees.
Albertsons LLC spokesperson Christine Wilcox says she’ll be able to provide more details on plans moving forward Friday morning once the sale is complete.
“Being back in Boise has people excited,” says Wilcox.
A Supervalu spokesman disputed that the Albertsons deal will be finalized by midnight on Thursday. He said the sale is expected to be complete “some time this week”.
