MINNEAPOLIS — Supervalu is having difficulty divesting its New-England based Shaw’s chain for more than $1 billion, the Wall Street Journal reported Tuesday, and the Minnesota grocery conglomerate may be ready to take down its "for-sale" sign.
According to the report, Shaw’s has been on the block for several months with no takers. Many bids from private-equity firms actually came in below the asking price.
The 174-store Shaw’s chain was part of the $11.4 billion Albertson’s buyout package in 2006. Supervalu sold off 16 Connecticut-based Shaw’s locations in February to Wakefern.