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ACME HAS BEEN SOLD!
Details at Reuters.com.
So much for my prediction thatAcme and Shaw's wouldn't get sold to Cerberus.
Albertson's, Jewel and Star Markets also sold.Let's hope Acme has a chance now that it'sfree of SuperValu's death grip!
Additional articles:
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"Will buyers keep, sell or shut your Acme?" Interesting article over at Philly.com
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Supervalu to sell Albertsons, Acme,Shaw's, Sav-on, other chains
Transcript.com has an article chock full of details on the sale and speculation on what the future holds for the purchased chains.In the article supermarket consultant David Livingston, has this to say... "Cerberus will most likely do what they did six years ago with Albertsons – sell, close, sell, close. They are not in this because they have a passion for running grocery stores. You don't buy failing grocery stores because you want to be in the grocery business." Ouch!
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"Acme store closings predicitedin light of Cerberus-SuperValu deal"Painful article at bizjournals.com
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