The special deal on supermarket companies might have been a limited-time offer. Although private equity has waded bravely into food retailing with several acquisitions over the past few years, food retailers are still relatively unattractive to investors looking for turnaround opportunities because of the sector's low margins, high risk and, recently, rising stock valuations. As two stories on Page 1 of this issue indicate, many supermarket chains for one reason or another simply don't ...

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