March 4 Supervalu Inc on Monday named a
new president for its Save-A-Lot discount chain and announced
other management changes as the supermarket operator and food
distributor gets ready to close a deal that will make it a
Supervalu said it should close the deal to sell five of its
supermarket chains to an investor group led by Cerberus Capital
Management LP during the week of March 18. It had
announced the $3.3 billion transaction, which includes the
assumption of $3.2 billion in debt, in January.
Supervalu is retaining its food wholesaler serving 1,950
U.S. stores; the 1,300-store Save-A-Lot discount grocery chain;
and the regional grocery chains Cub, Farm Fresh, Shoppers, Shop
'n Save and Hornbacher's.
Former OfficeMax Inc Chief Executive Officer Sam
Duncan became Supervalu's CEO one month ago, and on Monday he
announced some of the company's new leadership team.
Ritchie Casteel was named Save-A-Lot's president and CEO,
replacing Santiago Roces. Eric Hymas was named president of Shop
'N Save, replacing Marlene Gebhard.
Several Supervalu executives will be leaving once the deal
is completed, including Kevin Holt, president of Supervalu
retail; Tim Lowe, executive vice president of merchandising; and
Michael Moore, executive vice president and chief marketing
officer, the company said.