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Cerberus among buyout firms interested in US grocery giant Safeway

23 Oct 2013

news_grocery_lrgBuyout firms including turnaround investor Cerberus Capital Management are reportedly eyeing a deal for all or part of $8bn-valued US supermarket giant Safeway.

The deal could prove one of the largest leveraged buyouts since the financial crisis. Reuters reported the news, citing people familiar with the matter.

Safeway, the second-largest US mainstream grocery store operator, has hired Goldman Sachs to review options but is not yet running an auction, the report added.

Earlier this year a Cerberus-led consortium agreed to buy a clutch of assets from US grocery giant Supervalu in a deal valued at $3.3bn.

The New York-listed group agreed to sell its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores and related in-store pharmacies to AB Acquisition, a vehicle backed by Cerberus, Kimco Realty, Klaff Realty, Lubert-Adler Partners and Schottenstein Real Estate.

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