Content about Cerberus Capital Management

April 24, 2014

Supervalu has elected Frank (Terry) Savage and Mathew Pendo to its board of directors.

Supervalu has elected Frank (Terry) Savage and Mathew Pendo to its board of directors.

Savage and Pendo were both appointed to the board as designees of Symphony Investors, a Cerberus Capital Management-led investor consortium, under the terms of the tender offer agreement entered into with Symphony Investors and Cerberus in connection with Supervalu’s sale of five banners to an affiliate of Symphony Investors. Symphony Investors owns approximately 20.9% of Supervalu’s outstanding common stock.

March 7, 2014

Supervalu directors Mark Neporent and Lenard Tessler have stepped down from the company’s board of directors as a result of Cerberus-owned Albertsons’ deal to acquire Safeway.

Supervalu directors Mark Neporent and Lenard Tessler have stepped down from the company’s board of directors as a result of Cerberus-owned Albertsons’ deal to acquire Safeway.

Neporent and Tessler were both appointed to the Supervalu board in 2013 as designees of Symphony Investors, a Cerberus Capital Management L.P.-led investor consortium. Symphony Investors owns approximately 20.9% of Supervalu’s outstanding common stock, and has the right to designate replacement directors for Neporent and Tessler.

March 7, 2014

Supervalu directors Mark Neporent and Lenard Tessler have stepped down from the company’s board of directors as a result of Cerberus-owned Albertsons’ deal to acquire Safeway.

Supervalu directors Mark Neporent and Lenard Tessler have stepped down from the company’s board of directors as a result of Cerberus-owned Albertsons’ deal to acquire Safeway.

Neporent and Tessler were both appointed to the Supervalu board in 2013 as designees of Symphony Investors, a Cerberus Capital Management L.P.-led investor consortium. Symphony Investors owns approximately 20.9% of Supervalu’s outstanding common stock, and has the right to designate replacement directors for Neporent and Tessler.

March 21, 2013

Supervalu has completed the sale of its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores and related Osco and Sav-on in-store pharmacies to AB Acquisition LLC, an affiliate of a Cerberus Capital Management-led investor consortium, in a stock deal valued at $3.3 billion, including $100 million in cash and $3.2 billion in debt assumption.

MINNEAPOLIS — Supervalu has completed the sale of its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores and related Osco and Sav-on in-store pharmacies to AB Acquisition LLC, an affiliate of a Cerberus Capital Management-led investor consortium, in a stock deal valued at $3.3 billion, including $100 million in cash and $3.2 billion in debt assumption. 

March 21, 2013

Supervalu has completed the sale of its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores and related Osco and Sav-on in-store pharmacies to AB Acquisition LLC, an affiliate of a Cerberus Capital Management-led investor consortium, in a stock deal valued at $3.3 billion, including $100 million in cash and $3.2 billion in debt assumption.

MINNEAPOLIS — Supervalu has completed the sale of its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores and related Osco and Sav-on in-store pharmacies to AB Acquisition LLC, an affiliate of a Cerberus Capital Management-led investor consortium, in a stock deal valued at $3.3 billion, including $100 million in cash and $3.2 billion in debt assumption. 

February 4, 2013

Supervalu has named Sam Duncan president and CEO.

MINNEAPOLIS — Supervalu has named Sam Duncan president and CEO.

January 10, 2013

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.

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.

January 10, 2013

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.

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.

January 7, 2013

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 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.

Bloomberg also reported that a deal between Cerberus and Supervalu was imminent. According to that Bloomberg report, Cerberus would lead an investment of around $500 million in equity.

January 7, 2013

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 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.

Bloomberg also reported that a deal between Cerberus and Supervalu was imminent. According to that Bloomberg report, Cerberus would lead an investment of around $500 million in equity.