The Chicago Tribune reports that for-sale Albertsons has five bids for all or some of its operations.
According to the paper, three groups have bid for the entire company: Cerberus Capital Management Inc. and Kimco Realty Corp., in combination with Supervalu; Kohlberg Kravis Roberts & Co., Apollo Advisors and Texas Pacific Group Inc.; and Thomas H. Lee Partners LP, Bain Capital LLC and Warburg Pincus LLC, which have been working with Kroger.
Walgreen and CVS reportedly each have made offers for the almost 800 drugstores operated by the company.
Analysts tell the Tribune that Albertsons’ attempts to get top-dollar for its assets have been complicated by its “deteriorating market position.”
None of the companies involved with the bidding are commenting on the record.
According to the paper, three groups have bid for the entire company: Cerberus Capital Management Inc. and Kimco Realty Corp., in combination with Supervalu; Kohlberg Kravis Roberts & Co., Apollo Advisors and Texas Pacific Group Inc.; and Thomas H. Lee Partners LP, Bain Capital LLC and Warburg Pincus LLC, which have been working with Kroger.
Walgreen and CVS reportedly each have made offers for the almost 800 drugstores operated by the company.
Analysts tell the Tribune that Albertsons’ attempts to get top-dollar for its assets have been complicated by its “deteriorating market position.”
None of the companies involved with the bidding are commenting on the record.
- KC's View:
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Two things seem evident to us.
One is that Albertsons’ days as a proud retailing name are over. At this point, it is in its death throes, and all that remains is for the carcass to be picked over.
The second is that however the company is sold and divided, the stores themselves have no real future until whoever or whatever owns them decides to create a compelling and differentiated shopping experience.
