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Glover Park Group is working supermarket chain Albertsons’ acquisition of Rite Aid, drug store operator/benefits management company, for cash and stock.
The deal will create a yet-to-be-named entity with $83B in annual revenues and 4,900 stores across the US that serve more than 40M customers per week.
Bob Miller, Albertsons CEO, said the merger will forge a “fully integrated one-stop shop for our customers’ food, health and wellness needs.”
Albertsons, which owns supermarket brands such as Albertsons, Safeway, Vons, Jewel-Osco and Shaw’s, will own 71 percent of the merged company.
The Wall Street Journal reports the transaction will allow Albertsons to go public after more than a decade of ownership by Cerberus Capital Management private equity firm.
Glover Park’s Andrew Johnson represents Cerberus in the Rite Aid deal.
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Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
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Kekst CNC represents Grant Thornton as it sells a majority stake in its US arm to New Mountain Capital, which relies on Goldin Solutions, in what is billed as the largest PE investment in the accounting and advisory sector.
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