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Spartan Stores to be main distributor for Chief Super Market
GRAND RAPIDS, Mich. — Chief Super Market, an Ohio-based grocery chain, has selected Spartan Stores, a regional grocery distributor and retailer, as its primary wholesale grocery supplier.
Chief operates 12 stores in Northwest and West Central Ohio under the Chief and Rays banners. Spartan Stores stated that it will assume distribution to all of Chief’s banners for grocery, dairy, frozen, bakery and other products in March.
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Report: Supervalu sets rate on $2.4B loan for Cerberus sale
Eden Prairie, Minn. -- Bloomberg reported Tuesday that Supervalu Inc. has set the rate it will pay on $2.4 billion of loans to fund the sale of five supermarket chains to a Cerberus Capital Management LP-led investor group.
A six-year, $1.5 billion term will pay interest at 5.75 percentage points more than the London interbank offered rate with a 1.25 percent minimum, reported Bloomberg, citing an unnamed source.