MINNEAPOLIS — Supervalu said it “continues to be in active discussion with several parties” after reports indicated that talks with the private equity firm it had been in discussion with had stalled.
“The previously announced review of strategic alternatives is proceeding,” Supervalu said in a statement.
Cerberus Capital Management, which owns the Albertsons LLC chain that previous was split apart from the Albertsons chain owned by Supervalu, had been in talks to acquire Supervalu and reunite the Albertsons banner, according to reports. However, Bloomberg reported that talks have stalled because Cerberus was having trouble lining up financing for the deal.
Read more: Supervalu Buyout Talk Heats Up
Supervalu shares fell about 17% on the reports. Other private equity firms also were reported to have expressed interest in the company, but analysts questioned whether financing would be available.
Supervalu in July said it had retained Goldman Sachs and Greenhill & Co. to mull strategic options after years of declining sales in the wake of its 2006 acquisition of Albertsons.
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