PHOENIX -- After years of moving on and off the sales block, Smitty's Super Valu here is being sold by Steinberg International, Montreal, to Yucaipa Cos.
Yucaipa, based in Claremont, Calif., will pay $141 million for the 28-store chain, including $70 million in cash and $71 million in repayment and assumption of debts. The deal is expected to close in late June.
Smitty's annual sales volume is about $600 million, Yucaipa executives said.
Yucaipa is a private investment firm that is the ...
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