Malvern-Based Acme May Soon Be on the Market as Parent Company Looks to Sell Some of Its Grocery Chains
Albertsons, the owner of Malvern-based Acme Markets, may be looking to sell some of its grocery chains as it launches a review of its business strategy, writes Joseph DiStefano for The Philadelphia Inquirer.
Selling some of the pieces in the company would reward the two large investment firms that own nearly half of Albertsons shares, Cerberus Capital Management and Lubert-Adler Partners, after they ushered the company into public markets.
Albertsons put out feelers for possible buyers during its Feb. 28 announcement. The company stated that the review would include mulling “potential strategic or financial transactions” and entertaining “inquiries,” which are usually outside offers of potential mergers or acquisitions.
“The board believes the continuing strength of our business and the scale of our portfolio of assets warrants a deep and considered review of all possible paths towards maximizing value creation,” said Chan Galbato, co-chair of the Albertsons board.
Acme could be sold as real estate to other store chains, according to John Stanton, a professor of food marketing at Saint Joseph’s University. The chain has around 161 stores in six states, including Pennsylvania and New York.
Read more about Acme Markets in The Philadelphia Inquirer.
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