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Private investors to bid on Save-A-Lot: Report
Several private equity firms are expected to bid on acquiring Save-A-Lot from Supervalu in the coming weeks, making the prospect of a public spinoff of the discounter less likely, according to a Reuters report.
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Several private equity firms are expected to bid on acquiring Save-A-Lot from Supervalu in the coming weeks, making the prospect of a public spinoff of the discounter less likely, according to a Reuters report.
Citing anonymous sources, Reuters said Advent International; KKR; Clayton, Dubilier & Rice; TPG Capital; Onex Corp. and Thomas H. Lee Partners were expected to participate in an auction in coming weeks, with bids anticipated to reach $1.8 billion. The bids could provide an alternative to Supervalu's longstanding plan to spin Save-A-Lot into a separate company part-owned by Supervalu and its existing shareholders.
However, analysts have said the current low-inflation operating environment could make it difficult for food retailers to execute public offerings.
Supervalu was not immediately available for comment.
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