Albertsons

When Albertson's LLC announced last month that its parent company, AB Acquisition, an affiliate of Cerberus Capital Management, signed an agreement to acquire 877 stores from Supervalu in a deal valued at some $3.3 billion — a move that will reunite all Albertsons stores under one operator — it recast the rankings of the industry's leading pharmacy retailers.

Bob Miller has a knack for turnarounds. In 1999, he took over Rite Aid as chairman and CEO, helping to stabilize the drug store chain at a time when Rite Aid was on the brink of bankruptcy, and many analysts were projecting Rite Aid would fold.

Miller joined Rite Aid soon after building Fred Meyer into a supermarket powerhouse. Kroger acquired the Midwest chain in a $8 billion deal in 1999.

BOISE, Idaho — Albertsons named the division presidents who will lead the 877 stores it will acquire from Supervalu after the purchase agreement closes next month, the company said. The two companies agreed to the purchase in January.

MINNEAPOLIS — Supervalu on Monday named Sam Duncan president and CEO. In this role he succeeds Wayne Sales, who has served as the company’s president and CEO since July 2012. The succession was first reported last month, when Supervalu announced its agreement with AB Acquisition to sell five of its retail banners as well as enter into an agreement with Symphony Investors to conduct a tender offer for up to 30% of Supervalu's outstanding common stock. 

Last week in a much anticipated move, Cerberus Capital Management acquired 877 supermarkets from Supervalu for $100 million in cash and the assumption of $3.2 billion in debt.  Also part of the deal, a Cerberus-led investor consortium will provide the remaining Supervalu business an influx with the purchase of up to 30% of Supervalu stock at a purchase price of $4 per share. 

MINNEAPOLIS — In a move that will reunite all Albertsons stores under one operator, Supervalu on Thursday morning announced a definitive agreement under which it will sell 877 stores across the Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market banners and related Osco and Sav-on in-store pharmacies to AB Acquisition, an affiliate of Cerberus Capital Management, in a transaction valued at $3.3 billion.

NEW YORK — The breakup of Supervalu to private equity firm Cerberus Capital Management could be announced as soon as Thursday when Supervalu shares third-quarter results with analysts, according to a report in the Wall Street Journal published Friday. 

NEW YORK — The head of a regional supermarket chain based in the Pacific Northwest is stepping down, according to published reports.

The Bellingham, Wash., Herald reported that Haggen president and CEO Clarence Gabriel would step down and be replaced by three other members of its management team. The company did not elaborate on why Gabriel was resigning, according to the newspaper.