Supervalu to sell Save-A-Lot for $1.4B

Posted online October 17, 2016 | 11:39 am

Supervalu Inc. announced today it agreed to sell its Save-A-Lot business to private equity firm Onex Corp. for $1.4 billion in cash.

The company plans to use the proceeds to pay at least $750 million of its outstanding term loan balance and the rest to reduce debt and improve its capital structure.

The deal is expected to close by Jan. 31.

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