Some discount grocery stores in eastern Iowa and western Illinois will soon have a new owner. On Monday SUPERVALU announced the sale of its Save-A-Lot supermarket chain for $1.3 billion to Canadian private equity firm Onex Corporation.
The deal is expected to close before the end of January.
SUPERVALU, based in Eden Prairie, Minnesota, distributes grocery items to supermarkets and provides other services. It also owns Shop `N Save and Cub Foods.
There are more than 1,300 Save-A-Lot grocery stores around the US, including two in Davenport, and one each in Dubuque, Rock Island, Milan, East Moline, Geneseo, Kewanee, Galesburg, Monmouth, and Rock Falls.
SUPERVALU first announced plans to sell Save-A-Lot last year to focus on expanding its distribution business.
