Mergers & Acquisitions

Minneapolis -- Supervalu announced appointments to its executive team, including Janel Haugarth who will remain with the company as EVP and president of independent business and supply chain services. The announcement comes as Sam Duncan, Supervalu president and chief executive continues finalizing his leadership team following the sale of five retail banners to Cerberus-led investment group AB Acquisition LLC, a transaction that was completed on March 21.

In other appointments:

MINNEAPOLIS — Supervalu announced that Janel Haugarth who will remain with the company as EVP and president of independent business and supply chain services. The announcement comes as Sam Duncan, Supervalu president and chief executive officer, continues finalizing his leadership team following the sale of five retail banners to AB Acquisition LLC, a transaction that was completed on March 21.

Minnetonka, Minn. -- Brixmor Property Group has announced a 2,108-sq.-ft. lease with Bruegger's Bagels at Westwind Plaza, located in Minnetonka, Minn.

Brixmor, based in New York City, is the owner of Westwind Plaza.
 

New York -- Eddie Lampert, chairman of Sears Holding Corp., has signed a contract to remain as CEO of the retail company at a salary of $1 per year, the Associated Press reported. Sears announced in January that Lampert would take over as CEO after Louis J. D'Ambrosio stepped down due to family health issues.
    
Lampert’s new contract is effective Feb. 1, according to a regulatory filing yesterday. Lampert also has the opportunity for a bonus of up to $2 million in cash or stock and up to $4.5 million in stock per year.

YORK, Pa. — The Bon-Ton Stores has elected Jeffrey Sherman to its board, effective immediately. Sherman will serve on the human resources and compensation committee.

New York -- SkinnyPizza has signed an exclusive deal with Mogull Realty for multi-unit expansion into Manhattan. 

New York -- Supervalu on Thursday announced the completion of the sale of its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores and related Osco and Sav-on in-store pharmacies to AB Acquisition LLC, an affiliate of a Cerberus Capital Management-led investor consortium. The stock deal is valued at $3.3 billion, including $100 million in cash and $3.2 billion in debt assumption.

MINNEAPOLIS — Supervalu has completed the sale of its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores and related Osco and Sav-on in-store pharmacies to AB Acquisition LLC, an affiliate of a Cerberus Capital Management-led investor consortium, in a stock deal valued at $3.3 billion, including $100 million in cash and $3.2 billion in debt assumption.