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Reuters – Supervalu Seeks Bidders for Whole Company

(Reuters) – Supervalu Inc’s advisers are asking potential buyers to bid for the entire business, even as several suitors have inquired about individual parts of the U.S. grocery company, Bloomberg News reported.

 

Cerberus Capital Management LP is interested in the Alberstons unit of Supervalu, and Koninklijke Ahold NV , the Amsterdam-based parent body of Giant Food Stores LLC, is eyeing the Shoppers chain, Bloomberg said, citing people with knowledge of the matter.

 

Earlier in July, Supervalu said it was looking at options for overhauling the firm including a sale. Simultaneously, C&S Wholesale Grocers expressed its interest in buying the distribution business of the company.

 

The Minneapolis-based company has been hamstrung by debt from its $12.4 billion acquisition of more than 1,100 Albertsons stores in 2006. In recent years, it has lost market share to rivals like Kroger and Wal-Mart Stores Inc, which are known for holding down prices.

 

Supervalu hired Goldman Sachs Group Inc and Greenhill & Co as advisors to the potential sale.

Image Credit: Supervalu