ACME Stores to Be Sold - NBC 10 Philadelphia

ACME Stores to Be Sold

Popular Philly region grocery store chain part of mega supermarket swap



    ACME Stores to Be Sold

    One of the Philadelphia region’s biggest supermarket chains is changing ownership.

    Supervalu Inc. says it reached a deal to sell ACME and four of the company’s other biggest grocery chains -- Albertsons, Jewel-Osco, Shaw's and Star Market -- for $100 million in cash plus more than $3 billion in debt.

    The sale to AB Acquisition, an investor group led by Cerberus Capital Management, will include 877 stores -- 108 of those are ACME stores in Pennsylvania (47), New Jersey (49) and Delaware (12).

    The group will acquire the stores for $100 million in cash, and the new company will assume $3.2 billion in existing debt. 

    Following the sale, Supervalu will consist of a food wholesaler, Save-A-Lot, and regional chains Cub, Farm Fresh, Shoppers, Shop `n Save and Hornbacher's.

    Supervalu said grocery retail veteran Sam Duncan will replace CEO and Chairman Wayne Sales after the sale.

    The supermarket industry has had a tough go of it as they try to compete with big-box retailers including Target and Wal-Mart as well as drug store chains and even dollar stores.


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