Private equity firms prepare acquisition offers for Save-A-Lot

Some of the world’s largest buyout firms are preparing offers for Supervalu Inc.’s Save-A-Lot business, making an outright sale of the St. Louis area-based discount grocery chain more likely than a spin-off, according to people familiar with the matter.

Private equity firms Advent International Corp.; KKR & Co. LP; Clayton, Dubilier & Rice LLC; TPG Capital LP; Onex Corp. and Thomas H. Lee Partners LP are participating in an auction for Save-A-Lot, the people said.

Some of these firms could make binding offers that will value Save-A-Lot at as much as $1.8 billion, the people said.

Supervalu is expected to conclude the auction in the coming weeks and decide whether to sell Save-A-Lot outright or spin it off to Supervalu shareholders, the people added.

Read more: St. Louis Post-Dispatch


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