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WSJ report: Investment firms, industry suitors circling Supervalu

BY Michael Johnsen

NEW YORK — The jewel in the Supervalu crown — Save-A-Lot — may be up for bid by investment firm KKR, according to a Wall Street Journal blog post published Thursday. 

Also in the hunt is Cerberus Capital Management, which is weighing a bid for all of Supervalu, WSJ reported, citing persons familiar with the matter. However, Cerberus may also look at bidding for only pieces of the grocer. 

Reportedly in the bid for the wholesale end of Supervalu’s business is C&S Wholesale Grocers.   

For the complete post, click here. (Subscription required.)

 

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Walgreens named official retail partner of the People’s Choice Awards

BY Michael Johnsen

 DEERFIELD, Ill. — Walgreens and the People’s Choice Awards on Thursday announced the drug store’s appointment as the official retail sponsor of the 39th annual People’s Choice Awards.

As part of the sponsorship, Walgreens is bringing new and distinct elements to the program. For the first time, consumers will have the opportunity to engage in early voting for two People’s Choice Awards categories. From Oct. 28 through Nov. 14, fans can cast their votes for Favorite New TV Drama and Favorite New TV Comedy by visiting Walgreens.com and DuaneReade.com. Also new this year, Walgreens will be sponsoring a special award that reflects the company’s purpose to help people "get, stay and live well within the community."  

“We are thrilled to become the official sponsor for the People’s Choice Awards and look forward to engaging with our customers in a unique and exclusive way,” stated Joe Magnacca, president of daily living products and solutions for Walgreens. “The community award presented by Walgreens is an exceptional way to highlight an individual who positively impacts the community and reflects our purpose to help people get, stay and live well.”

“In the 39-year history of the People’s Choice Awards, we have never opened a category for early voting,” said Fred Nelson, president of People’s Choice. “Partnering with Walgreens to give early voting access for Favorite New TV Drama and Favorite New TV Comedy provides a great opportunity for our fans. Walgreens is helping the People’s Choice Awards provide fans with exactly what they want — the ability to vote early, vote often and have their voices heard.”

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McKesson to acquire PSS World Medical for $2.1 billion

BY Michael Johnsen

SAN FRANCISCO — McKesson and PSS World Medical on Thursday announced that the two companies have signed a definitive agreement under which McKesson will acquire all outstanding shares of PSS World Medical for $29 per share in cash in a deal valued at $2.1 billion. 

PSS World Medical and McKesson’s Medical Surgical business will combine to form one of the leading providers of medical supplies, services and technology to physicians and extended care customers. With the combined entity, customers will have access to a broader array of medical products and services, coupled with the additional convenience and efficiency of working with a single delivery organization.

“The combination of McKesson’s Medical Surgical business and PSS World Medical is an exciting next step in McKesson’s commitment to improve business health and clinical performance across health care,” stated John Hammergren, McKesson chairman and CEO. “The unified organization will bring extensive distribution capabilities, deep product and technology expertise and a broad portfolio of business services to an expanding industry, helping our customers improve efficiency and productivity and deliver better care.”

The transaction is subject to customary closing conditions, including all necessary regulatory clearances and the approval of PSS World Medical’s shareholders.  

Following the close of the transaction, the combined business will be reported as part of McKesson’s Distribution Solutions segment, reporting to Paul Julian, McKesson EVP and group president. Upon the close of the transaction, Gary Corless, president and CEO of PSS World Medical, will become COO of the combined organization.

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