SuperValu, CVS Corporation, and Cerberus
On June 2, 2006, the sale of Albertsons, Inc. essentially split the company into three parts.
- CVS Corporation purchased the 700 free-standing drug stores (Osco Drug and Sav-on Drugs). By 2007 these stores were rebranded as CVS Pharmacy.
- A Cerberus-led group of investors, (who included Kimco Realty Corporation, Schottenstein Stores Corp., Lubert-Adler Partners, and Klaff Realty) purchased the Albertsons stores in northern California, Colorado, Texas, Oklahoma, Florida, Arizona, and New Mexico forming a new corporation called Albertsons LLC. Many of these stores have since been sold to other grocery chains or closed altogether.
- SuperValu purchased the Jewel, Acme, Shaw's divisions and the remaining Albertsons stores not acquired by Cerberus. Supervalu retains the Osco and Sav-on drug trademarks allowing the pharmacies in their grocery stores to remain branded as Sav-on Pharmacy or Osco Pharmacy.
Both SuperValu and Albertsons LLC use the Albertsons store banner name.
Osco is now run under Supervalu Pharmacies and is based in Eden Prairie, Minnesota. Certain store support functions exist in the Franklin Park, Illinois office.
Read more about this topic: Osco Drug
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