Save-A-Lot to be sold to Onex in $1.4B deal

Save-A-Lot to be sold to Onex in $1.4B deal

Supervalu to pay down debt, wins services deal; price slightly less than expected

Supervalu said Monday it has entered into an agreement to sell Save-A-Lot to an affiliate of the private equity firm Onex Corp. for $1.365 billion, ending more than a year of speculation as to the fate of the substantial but struggling discount business.

The deal, subject to customary closing conditions, is expected to be complete by Jan. 31 of next year. In addition, Supervalu said it had entered into a five-year professional services agreement with Onex whereby it would conti

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