Chicago-based buyout firm Klaff Realty is considering a bid for the Jewel-Osco supermarket chain or other parts of its embattled parent, SuperValu Inc., according to an article in Crain’s Chicago Business.
Klaff Realty LP's interest in the Eden Prairie, Minn.-based chain was confirmed by real estate sources who deal with Klaff. Supermarket industry analysts are also speculating that Yucaipa Cos., Los Angeles, which owned competitor chain Dominick's between 1995 and 1998, may also make an offer for all or part of SuperValu, according to the article.
SuperValu announced last month that it was reviewing all strategic on the heels of a 45 percent fall-off in first-quarter profits. Its stock price nosedived nearly 50 percent on July 12. As of Aug. 17 it was at $2.34.
Analysts say the company would prefer a single buyer but most potential bidders will be interested in just parts, which include the Acme and Save-a-Lot chains.
Read the entire Crain’s article here.