Cerberus Capital Management: Difference between revisions

Cerberus purchased 655 of the 2,500 [[New Albertsons, Inc.|Albertson's, Inc.]], grocery stores, forming [[Albertsons LLC]] of [[Boise, Idaho]], in June 2006. It also had an ownership stake in the now-bankrupt [[Mervyn's]] department stores, which was acquired from [[Target Corp]]. In May 2012, Cerberus sold its holdings in Torex Retail Holdings, Ltd., a Dunstable, England-based provider of information technology systems for the retail, fuel and convenience stores and pub markets in the United Kingdom and Continental Europe that was acquired in June 2007, to MICROS Systems, Inc.<ref>[[MICROS]] Systems, Inc. Press Release. [http://www.micros.com/NewsAndEvents/PressReleases/2012/torex.htm "MICROS Announces Agreement To Acquire Torex Retail Holdings, Ltd."] {{webarchive |url=https://web.archive.org/web/20160115033516/http://www.micros.com/NewsAndEvents/PressReleases/2012/torex.htm |date=January 15, 2016 }}.</ref> In January 2013, it announced a deal to acquire 877 stores in the Albertson's, Acme, Shaw's and Star Market chains from [[SuperValu (United States)|SuperValu]] for $100 million and acquisition of $3.2 billion on SuperValu debt.<ref name="post" /> In February 2014, it was reported that [[Safeway Inc]] was in advanced talks with private equity firm Cerberus Capital Management LP over a leveraged buyout deal.<ref>{{Cite news |title=Cerberus in advanced talks to buy Safeway - sources |url=https://www.reuters.com/article/safeway-cerberus-idUSL2N0LP2UJ20140221 |url-status=live |archive-url=https://web.archive.org/web/20140228163125/http://www.reuters.com/article/2014/02/21/safeway-cerberus-idUSL2N0LP2UJ20140221 |archive-date=February 28, 2014 |access-date=June 30, 2017 |website=[[Reuters]]|date=February 21, 2014 }}</ref> After integrating the Safeway purchase, on October 14, 2022 [[Kroger]] announced it would be acquiring Albertsons for $25 billion, combining the largest and second-largest supermarket chains in North America.<ref>{{Cite news|url=https://www.reuters.com/markets/deals/kroger-acquire-rival-albertsons-near-25-billion-deal-2022-10-14/|title=U.S. grocer Kroger carts away Albertsons for $25 billion but faces antitrust test|first1=Aishwarya|last1=Venugopal|first2=Diane|last2=Bartz|first3=Abigail|last3=Summerville|first4=Diane|last4=Bartz|first5=Abigail|last5=Summerville|newspaper=Reuters |date=October 14, 2022|via=www.reuters.com|access-date=April 23, 2023|archive-date=December 9, 2022|archive-url=https://web.archive.org/web/20221209010636/https://www.reuters.com/markets/deals/kroger-acquire-rival-albertsons-near-25-billion-deal-2022-10-14/|url-status=live}}</ref>