You have reached your limit of free articles this month.

Enjoy unlimited access to myDaytonDailyNews.com

Starting at just 99¢ for 8 weeks.

GREAT REASONS TO SUBSCRIBE TODAY!

  • IN-DEPTH REPORTING
  • INTERACTIVE STORYTELLING
  • NEW TOPICS & COVERAGE
  • ePAPER
X

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and bonus content- exclusively for subscribers. Starting at just 99¢ for 8 weeks

X

Welcome to myDaytonDailyNews.com

This subscriber-only site gives you exclusive access to breaking news, in-depth coverage, exclusive interactives and bonus content.

You can read free articles of your choice a month that are only available on myDaytonDailyNews.com.

Grocery store chain with area locations acquired for $1.4B


A grocery store with a presence in the Miami Valley has been sold by its owner.

Supervalu announced its deal with Onex Corp., which will acquire Save-A-Lot for $1.4 billion in cash. Supervalu and Save-A-Lot will enter into a five-year professional services agreement, according to a company statement.

There are more than five Save-A-Lot locations in the Miami Valley. The sale is expected to be completed by Jan. 31, 2017, pending regulatory approvals and closing conditions.

Save-A-Lot opened a 15,000-square-foot store in April at Breitenstrater Square shopping center in Kettering at the corner of Patterson Road and Wilmington Avenue.

The grocery chain also opened a location at Dayton’s Eastown Shopping Center on Linden Avenue late last year.

Supervalu expects to use the net sale proceeds to pay at least $750 million against its outstanding term loan balance, and will use the remaining amount to reduce debt and improve its capital structure.

“The sale of Save-A-Lot is another important step in Supervalu’s transformation,” said Mark Gross, Supervalu president and CEO. “It provides us with a stronger balance sheet that will allow us to further build on our core strengths and growth opportunities.”

Supervalu brings in $18 billion annually in sales with a network of 3,342 stores nationwide. There are 1,368 Save-A-Lot stores, with 896 operated by licensee owners.

Headquartered in Minnesota, Supervalu has approximately 40,000 employees.


Reader Comments ...


Next Up in Business

Many veterans still struggle to find work
Many veterans still struggle to find work

Joshua L. Bush had eight years in the Army under his belt, serving as a tank crew member during two combat deployments to Iraq, when he left the military and began looking for work. After six months, the 28-year-old Dayton native finally found a job, as a bartender. For veterans like Bush, it’s a familiar refrain. No matter how skilled they may...
Memorial Day grillers to get hot deals on meat prices this year
Memorial Day grillers to get hot deals on meat prices this year

As the grilling season kicks off this Memorial Day weekend, amateur grill masters will see some deals on burgers, steaks and chicken prices at area groceries and butcher stores. Meat prices have dropped slightly from last year and are expected to remain steady throughout the summer season as livestock herds continue to recover from a devastating drought...
New memory care facility in Liberty Twp. aims for comfort, security
New memory care facility in Liberty Twp. aims for comfort, security

Thrive Memory Care has opened at 7200 Heritagespring Drive in Liberty Twp., offering luxury suites that resemble those of any high-end senior living community. The new premium memory care facility is part resort lodge, part home-away-from-home and designed to provide seniors with Alzheimer’s, dementia or other forms of memory loss with a calming...
Temperature swings, recent rains worry Ohio farmers
Temperature swings, recent rains worry Ohio farmers

More than eight inches of rain since April 24 has put many Ohio farmers behind in their planting and left some scrambling to get their crops in the ground before June. Adding cold temperatures in early May to the high rainfall has been a recipe for disaster for many corn farmers and soybean farmers are playing catchup as rain continues to fall. Brandon...
Executives look at Dayton for another soccer team
Executives look at Dayton for another soccer team

Exploring whether Dayton can support another soccer team, a United Soccer League Division III executive who recently visited the city said Friday that a new team could co-exist with and complement the Dayton Dutch Lions FC and the Dayton Dynamo. “We see a professional team in Dayton as an opportunity for players, coaches, referees and even companies...
More Stories