{"id":14630,"date":"2013-01-10T07:52:19","date_gmt":"2013-01-10T14:52:19","guid":{"rendered":"http:\/\/stateimpact.npr.org\/idaho\/?p=14630"},"modified":"2013-01-10T08:36:35","modified_gmt":"2013-01-10T15:36:35","slug":"cerberus-to-buy-albertsons-grocery-stores-for-3-3-billion","status":"publish","type":"post","link":"https:\/\/stateimpact.npr.org\/idaho\/2013\/01\/10\/cerberus-to-buy-albertsons-grocery-stores-for-3-3-billion\/","title":{"rendered":"Cerberus To Buy Albertsons Grocery Stores In $3.3 Billion Deal"},"content":{"rendered":"

The investment group Cerberus Capital Management LP will buy Albertsons<\/a> stores from Supervalu for $3.3 billion according to The New York Times<\/em> and the Wall Street Journal<\/em>.<\/p>\n

Here’s more from the Times’ DealBook blog<\/a>:<\/p>\n

The Cerberus-led group will also buy up to 30 percent of Supervalu itself, paying $4 a share in a tender offer. That represents a 50 percent premium to the grocery chain operator\u2019s 30-day average closing price and nearly 32 percent higher to Wednesday\u2019s closing price.<\/p>\n

At a minimum, the investor consortium will own at least 19.9 percent of Supervalu.\u00a0<\/em>– NYTimes.com<\/p><\/blockquote>\n

Here’s information from<\/a> the Wall Street Journal<\/em>:<\/p>\n

Under an agreement announced Thursday, Cerberus and some real-estate firms would pay $100 million for 877 stores, including Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market outlets. The deal includes $3.2 billion in debt, for a total enterprise value of $3.3 billion.<\/p>\n

In buying Albertsons, Cerberus aims to reunite those stores with other Albertsons stores it already owns. In 2006, a Cerberus-led group acquired more than 650 underperforming Albertsons stores as part of a larger deal to dismantle that grocer, Albertsons Inc. – WSJ.com<\/p><\/blockquote>\n

Albertsons<\/a> was founded in Boise, Idaho in 1939. In 2006, Albertsons Inc. split into pieces and the majority of it was acquired by grocery store giant Supervalu.\u00a0 Minneapolis-based Supervalu purchased the company<\/a> in a $17.4 billion deal.<\/p>\n

Here is a press release on today’s deal<\/a> from Supervalu.<\/p>\n","protected":false},"excerpt":{"rendered":"

The investment group Cerberus Capital Management LP will buy Albertsons stores from Supervalu for $3.3 billion according to The New York Times and the Wall Street Journal. Here’s more from the Times’ DealBook blog: The Cerberus-led group will also buy up to 30 percent of Supervalu itself, paying $4 a share in a tender offer. […]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[13],"tags":[173],"acf":[],"_links":{"self":[{"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/posts\/14630"}],"collection":[{"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/comments?post=14630"}],"version-history":[{"count":1,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/posts\/14630\/revisions"}],"predecessor-version":[{"id":14638,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/posts\/14630\/revisions\/14638"}],"wp:attachment":[{"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/media?parent=14630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/categories?post=14630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/tags?post=14630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}