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Private equity firms prepare acquisition offers for Save-A-Lot-sources

Some of the world's largest buyout firms are preparing offers for Supervalu Inc's (SVU.N) Save-A-Lot business, making an outright sale of the U.S. discount grocery chain more likely than a spin-off, according to people familiar with the matter.

Private equity firms Advent International Corp, KKR & Co LP (KKR.N), Clayton, Dubilier & Rice LLC, TPG Capital LP, Onex Corp (OCX.TO) and Thomas H. Lee Partners LP are participating in an auction for Save-A-Lot, the people said this week.

Some of these firms could make binding offers that will value Save-A-Lot at as much as $1.8 billion, the people said. Supervalu is expected conclude the auction in the coming weeks and decide whether to sell Save-A-Lot outright or spin it off to Supervalu shareholders, the people added.

The sources asked not to be identified because the deliberations are confidential. Supervalu did not immediately respond to a request for comment. Representatives...


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