- American City Business Journals•9 days ago
A deep-discount grocery chain that’s viewed as a key competitor to one of Kroger Co.’s growing store brands has been sold to a private equity firm. Earth City, Mo.-based Save-A-Lot will be sold to private equity firm Onex Corp. for $1.4 billion, according to an agreement Save-A-Lot parent Supervalu finalized Monday. Save-A-Lot operates about 1,370 stores, including seven in Greater Cincinnati.
- Reuters•10 days ago
Food retailer and wholesaler Supervalu Inc said it will sell its Save-A-Lot business to Canadian private equity firm Onex Corp for $1.37 billion rather than spinning off the discount grocery chain as previously planned, the companies said on Monday. Eden Prairie, Minnesota-based Supervalu had been looking to separate the more profitable division, which generates about a quarter of the company's sales, from its slower-growing grocery wholesale and food retail businesses as bigger rivals such as Wal-Mart Stores Inc increase their focus on groceries. Supervalu said it will enter into a five-year agreement to provide Save-A-Lot with some services and support functions as part of the deal.
Onex Corporation (OCX.TO)
Toronto - Toronto Delayed Price. Currency in CAD
|Day's Range||84.40 - 86.74|
|52wk Range||74.33 - 87.86|
|1y Target Est||N/A|
|P/E Ratio (ttm)||-361.34|
|Avg Vol (3m)||101,442|
|Dividend & Yield||0.28 (0.33%)|