Toronto-based Onex has come out on top in their bid to acquire the Save-A-Lot discount chain from Supervalu. This was revealed at an auction that explores the potential option for Supervalu’s future.
Supervalu is currently making a decision about spinning off to become a publicly traded company controlled by Supervalu shareholders. A confidential source shares that a final verdict could be made in the coming weeks.
An industry wide downturn in sales performance this year reduced valuations for publicly traded food retailers including Supervalu. Sources have stated that this may have made a public offering for difficult for this time.
