Roundup: Supervalu deal closer; Bayer gets FTC OK; Upper St. Clair apartments planned; more
Deal for some assets of Supervalu near
An investor group led by Cerberus Capital Management LP is nearing a deal to acquire some of grocery chain Supervalu Inc.'s assets and become a shareholder in the remaining public company, said people familiar with the matter. Cerberus and its real estate partners are willing to put in $500 million in equity to appease lenders that had previously balked on terms Cerberus was seeking. Last month, Supervalu had been moving toward a deal to sell only individual chains such as Albertsons and Save-A-Lot to Cerberus after discussions on a full takeover stalled, people with knowledge of the matter said then. Mike Siemienas, a spokesman for Eden Prairie, Minnesota- based Supervalu, declined to comment, as did Peter Duda, a spokesman for Cerberus. Supervalu supplies Shop n Save, Foodland and other Pittsburgh-area supermarkets and operates a distribution center near New Stanton.
Electrical supplier moves HQ to Cranberry
Advanced Controls and Distribution Inc. has relocated its headquarters to Cranberry after outgrowing its space at 1100 Rico Rd., Monroeville. The company, a full-line distributor of industrial electrical supplies, made the move to 20800 Route 19 as of Jan. 1, after a $ 1 million renovation of the building it purchased from Sterling Lights for $1.1 million. The building, with 14,000 square feet, has 9,000 square feet of office space and 5,000 square feet of warehouse. About 18 employees relocated to the new building which has room for another 10 who could be employed over the next two to three years, he said. A sister company, Premier Automation, has taken over the space in ACD's former building in Monroeville, he said.
Bayer gets FTC approval to buy Teva animal-drug division
Bayer Corp.'s HealthCare unit said it received regulatory clearance to complete its $145 million acquisition of the animal-drug division of Teva Pharmaceutical Industries Ltd. Teva is based in Israel and has several facilities in the Philadelphia region, but the animal-products factory is in St. Joseph, Mo. The factory and about 300 employees will be transfered to Bayer. Bayer Corp., the Robinson based American operations of Bayer AG of Germany, said the Federal Trade Commission had approved the sale. “This acquisition fits nicely with our strategic goals,” Joerg Reinhardt, CEO of Bayer HealthCare, said.
GM recalls nearly 69,000 vehicles worldwide
General Motors is recalling nearly 69,000 pickup trucks, SUVs and vans worldwide because they can roll away unexpectedly. The recall affects certain 2013 models of the Chevrolet Silverado, Suburban, Tahoe, Avalanche and Express. Also included are the GMC Sierra, Savana and Yukon as well as the Cadillac Escalade. GM says the vehicles may have been built with faulty park lock cables or malformed steering column lock gears. The vehicles can be shifted out of park even if the ignition key is in the off position or removed. GM says about one in 1,000 of the vehicles has the problem, and most haven't been sold yet. The company says it knows of no crashes or injuries caused by the problem.
220-unit apartment in Upper St. Clair planned
A local developer wants to build a 220-unit apartment complex in Upper St. Clair but first must get township zoning approval for the project. John Deklewa's Residential Development Construction Inc. filed an application with the township to rezone the property. The site is located at the end of Boyce Plaza Road, where he purchased about 24 acres of vacant land from Fifth Third Bank for $1.2 million. A hearing on the proposal is scheduled Jan. 17 before the township planning commission, said Scott Brilhart, planning director. Following the commission's action, further public hearings will be held by the township commissioners. The plan shows nine buildings, each three-stories to be located on the site.
Other business news
• US Airways said it flew 4.40 million passengers in December, nearly 1 percent more than the 4.37 million it flew a year earlier. The airline also filled more of its passenger seats, a measure of profit the industry calls the “load factor.” US Airways' load factor of 83.1 percent in December was a record for that month, and compared with 81.9 percent the year before. At the same time, the carrier reduced its flight capacity by 0.2 percent over the year.
• First Insight will introduce a new product to help retailers and manufacturers decide how much a new product should cost at the National Retail Federation's annual convention starting Jan. 13 in New York. While businesses “have endless amounts of intelligence on product performance after products hit the stores,” CEO Greg Petro said, the Sewickley-based market research firm's new models give them insight into consumer response beforehand.
— Staff and wire reports
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Steelers laud decision, praise Brady for taking on Goodell
- With most starters resting, Steelers turn in lackluster loss at Heinz
- Roundup: Kraft Singles recall grows nearly tenfold; judge OKs $415M settlement in Apple, Google wage case; more
- Liriano struggles as Brewers complete sweep of Pirates
- Experts warn Kane’s Haiti trip might jeopardize any case from 2014 wiretap
- Freeport Area to explore options for storing maintenance equipment
- The Clarks go back to their roots with new album ‘Rewind’
- Steelers notebook: Thomas, Moats only starting defensive players to see action vs. Panthers
- Indian SUV maker Mahindra to debut electric scooter in U.S.
- Young guns lead way into pivotal Pirates-Cardinals series
- Brackenridge approves sewer line repair, curb installations