April 24, 2018 / 8:22 PM / a year ago

Supervalu to sell, leaseback eight distribution centers

April 24 (Reuters) - U.S. supermarket operator Supervalu Inc said on Tuesday it would sell eight of its distribution centers to a buyer for about $483 million.

The company said after it closes the sale, it will enter into lease agreements for each of the facilities for an initial term of 20 years with renewal options.

Earlier this month, Reuters, citing a source, reported Supervalu was working with investment banks Lazard Ltd and Barclays Plc for a potential sale of the company. (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Arun Koyyur)

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