Cerberus Capital Management LP seemingly can’t get enough supermarkets. Its portfolio company Albertsons LLC agreed to buy rival grocery store chain Safeway Inc. on March 7 for $9 billion in what would be Cerberus’ third major investment in the sector.
Cerberus and Supervalu Inc. teamed up with CVS Caremark Corp. in 2006 to carve up Albertson’s Inc. in a $17.4 billion buyout, and last year Cerberus joined forces with Kimco Realty Corp., Klaff Realty LP, Lubert-Adler Partners and Schottenstein Real Estate Group LLC to buy Supervalu’s Albertson’s assets for $100 million and $3.2 billion in assumed debt.
