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Supervalu
Supervalu saw its stock launch an upward trajectory after the Jan. 10 announcement that it had agreed to sell its Albertsons, Jewel-Osco, Acme and Shaw’s/Star Market banners to a private equity consortium led by Cerberus Capital Management for about $3.3 billion. The sale, through which Cerberus acquired a stake in Supervalu, was completed March 21.
Delhaize Group
Delhaize on May 8 announced that longtime CEO Pierre-Olivier Beckers would retire by the end of the year, while at the same time reporting positive sales momentum at its Food Lion and Hannaford Bros. banners. About three weeks later, on May 28, the company said it had reached an agreement to sell its long-struggling Sweetbay banner in Florida, along with the Harveys and Reid’s chains, to Bi-Lo Holdings for $265 million.
Safeway
Safeway kicked off 2013 with the Jan. 2 announcement that longtime CEO Steve Burd planned to retire. On April 29, Robert L. Edwards, who had been promoted to president last year, was named as Burd’s successor in the CEO role. Soon after he officially took over as CEO, Safeway said on June 12 that it had agreed to sell its Canadian operations to Sobeys for a total of about $5.8 billion.
Harris Teeter Supermarkets
After trade reports surfaced that Harris Teeter Supermarkets could be looking for a buyer, the company finally confirmed on Feb. 13 that it had been approached by two private equity firms about a possible buyout, and that it was considering the possibility of a sale. On July 9 Harris Teeter announced that it had reached an agreement to be acquired by Kroger Co. for about $2.5 billion, including the assumption of about $100 million in debt.
Empire Co.
Empire, parent of the Sobeys chain, saw its stock rise nearly 10% on the June 12 news that it had agreed to acquire Safeway Canada, for $5.8 billion, including assumption of liabilities. The division had revenues of $6.7 billion (Canadian) in 2012. On June 27, the company also reached two separate agreements to sell its its 46 movie theaters in Canada.
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