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As part of SuperValu's acquisition of New Albertsons, including its Chicago-based Jewel-Osco stores, SuperValu divested its Chicago-area Cub Foods locations to an investment group headed by Cerberus Capital Management, to avoid market concentration issues.
Consumers from 80% of all households in the Chicago metropolitan area visit a Jewel-Osco store at least once a month. [83] On January 10, 2013, SuperValu announced the sale of Jewel food stores to Cerberus Capital Management in a $3.3 billion deal. [84] [85] The deal closed on March 21, 2013. [86]
The SuperValu owned Albertsons stores and the chains it acquired were in turn sold to Cerberus in 2013 and Osco and Sav-On pharmacies moved their operations to the base of Albertsons LLC in Boise, Idaho. Certain store support functions exist in the Franklin Park, Illinois, office.
Albertsons was founded in 1939 by Joe Albertson (1906–1993) on July 21 in Boise, Idaho. [20] An ad in Boise's Idaho Statesman newspaper touted Albertson's first store as "Idaho's largest and finest food store." The store was filled with perks that, at the time, were brand new: free parking, a money-back guarantee, and even an ice cream shop.
SuperValu retained a 46% interest in the new company, which Shopko later purchased in 1997. SuperValu founded the clothing store County Seat in 1973 and sold it to Carson Pirie Scott in 1983. In 1975, SuperValu acquired Hornbacher's. [7] In 1980, the company acquired Minnesota-based Cub Foods, which operated five stores in the Twin Cities area.
In 2013, Cerberus Capital Management acquired the Albertsons stores from SuperValu, including the Lucky stores under Albertsons control. [ citation needed ] In 2018, Lucky entered Utah when two stores in Salt Lake City and West Valley City under Albertsons' no-frills and soon-to-be defunct Super Saver banner were converted to Lucky.
NEW YORK (Reuters) -Kroger and Albertsons could turn to fast-growing and profitable advertising ventures to tackle competition and grow after a failed $25 billion merger between the two ...
In September 2012, Supervalu announced it would close 22 Save A Lot stores in seven states. [6] [7] Several executive changes were made by Supervalu on March 4, 2013, including replacing Save-A-Lot CEO Roces with Ritchie Casteel. This came in the midst of plans by Supervalu to sell a number of its other grocery chains to Cerberus Capital ...
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