Albertson's weighs offers

As a follow up to an earlier story, the 5 suitors for Albertson's seem to be: Kroger, Supervalu, Walgreens, CVS, and one other group (which I thought involved Safeway, but Safeway is not named in this article)

Chicago Tribune | Offers made by 5 suitors for Albertson's assets
Albertson's Inc., the Boise, Idaho-based grocer and drugstore operator that put itself up for sale three months ago, on Tuesday was weighing at least five bids for its operations, including its Chicago-area Jewel/Osco stores. Two bidders, Deerfield-based Walgreen Co. and CVS Corp. of Woonsocket, R.I., reportedly are competing for the nearly 800 free-standing drugstores operated by Albertson's. There are 74 free-standing Osco stores in the Midwest.

...Private hedge funds lead three groups bidding for both the drugstore and grocery store parts off the business, including the 188 Jewel/Osco stores and 14 free-standing Jewel stores in the Chicago area. Sources said two of the groups include grocery store operators: Kroger Co. of Cincinnati and Supervalu Inc. of Eden Prairie, Minn.

The three groups are Cerberus Capital Management Inc. and Kimco Realty Corp., in combination with Supervalu; Kohlberg Kravis Roberts & Co., Apollo Advisors and Texas Pacific Group Inc.; and Thomas H. Lee Partners LP, Bain Capital LLC and Warburg Pincus LLC. Kroger has been negotiating with the last group.

Again, this is going to roil a few in-store vendors.

Update: looks like SuperValu is going to win

update 12/23/05. Guess not!

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This page contains a single entry by Seth A. published on December 14, 2005 1:10 PM.

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